Paving the Way for Circular Economy: Budget 2025 Fuels the Surge
India’s waste management crisis remains a significant challenge, with the country producing 62 million tonnes of waste annually but treating only 12 million tonnes. This stark reality underscores the urgent need for robust policy interventions to bridge the gap between ambitious initiatives like Swachh Bharat Mission (SBM) LiFE (Lifestyle for Environment) and their actual implementation.
Prashant Singh, Co-Founder and CEO of Blue Planet Environmental Solutions, highlighted the importance of this moment in shaping India’s sustainability journey. He stated, “India produces 62 million tonnes of waste annually, of which only 12 million are treated, highlighting the grave reality of the situation. Even with pioneering initiatives like Swachh Bharat Mission (SBM) LiFE (Lifestyle for Environment), there remains a significant gap between our ambitious goals and their on-ground implementation. However, numerous companies and startups have stepped up to champion the cause of proper waste disposal, striving to create a closed-loop system that maximizes resource utilization.”
The upcoming Union Budget 2025 is seen as a critical opportunity to accelerate India’s transition from a linear to a circular economy. Mr Singh emphasized, “At this point, we stand at a pivotal juncture, and the Union Budget 2025 presents an opportunity to drive India’s transition from a linear economy to circular economy. We hope for the necessary rebates on taxes and subsidies for companies promoting circularity to inspire the next generation of entrepreneurs to explore innovative sustainability solutions. Incentives for companies converting non-recyclable waste materials into usable energy, reducing GST on recycling equipment, and policies encouraging public-private partnerships in waste management would help address waste challenges, create economic opportunities, and support the nation’s net-zero goals. Additionally, expanding the scope of policies related to extended producer responsibility would be a valuable step forward in encouraging manufacturers to take greater accountability for the entire lifecycle of their products.”
Blue Planet Environmental Solutions, a global pioneer in integrated waste management and circular economy solutions, envisions a zero-waste future powered by innovative, sustainable technologies. The company’s mission to redefine waste management aligns closely with the broader objectives of embedding circularity and sustainability into India’s business practices and policies.
With the Union Budget 2025 on the horizon, industry leaders and environmental advocates are calling for targeted incentives and policy reforms to address India’s mounting waste challenges. Measures like tax rebates, subsidies, public-private partnership frameworks, and enhanced producer responsibility can drive the shift towards a more sustainable and resource-efficient future. By embedding circular economy principles at its core, India has the potential to emerge as a global leader in environmental stewardship.