Union Budget: Markets Eye Tax Reforms, Green Energy Push; Limited Immediate Stock Impact

• Markets anticipate tax reforms and continued focus on battery storage, grid expansion, and green energy in the upcoming Union Budget.
• Schemes like PM Surya Ghar, Green Energy Corridor, RDSS, SMR nuclear mission, and pumped storage support are expected to continue.
• The Budget is unlikely to be a near-term stock trigger but will reinforce long-term direction for nuclear power, renewables, storage, and transmission.
• Industry seeks targeted tax and GST reforms, including group tax consolidation, direct tax incentives for nuclear start-ups, and lower GST on battery storage.
• Power sector allocation is expected to be Rs 45,000–60,000 crore, primarily for battery energy storage, with limited new renewable additions.

Why It Matters: The Union Budget will emphasize long-term green energy and power sector reforms, with limited immediate market impact.