Anticipation Builds in Recycling, Waste Management Sector Ahead of Union Budget 2024
Major expectations from industry leades and stakeholders include enhanced credit accessibility and introduction of outcome-linked tax incentives.
image for illustrative purpose
India's waste management and recycling sector is eagerly awaiting the Union Budget 2024, expecting significant policy changes to boost its role in sustainable growth.
Industry leaders stress that sector's importance in achieving environmental goals and hope for its classification as a priority sector in the upcoming budget, which may pave the way for Corporate Social Responsibility investments in Public-Private Partnerships for infrastructure development.
Major expectations include enhanced credit accessibility through robust debt guarantees and introduction of outcome-linked tax incentives to attract private investments.
Stakeholders also emphasise the need for improved waste collection infrastructure and more efficient recycling systems to comply with Extended Producer Responsibility (EPR) and the Waste Management Rules of 2016.
Ahead of the budget announcement, the Material Recycling Association of India (MRAI) has urged the government to eliminate import duties on aluminium scrap. They say this action will bring down the carbon emission levels linked to aluminium production.
As stakeholders prepare for the budget, their focus remains on leveraging policy support for effectively managinga India's waste resources.
