The budget – the first since the May election of new Prime Minister Narendra Modi – was swiftly welcomed by Suzlon chairman Tulsi Tanti as “growth-oriented and futuristic”, and one that could help the wind sector grow by 50% in 2014/15.

Jaitley set aside 10bn rupees ($166m) to back solar projects, half of it to support the development of so-called “ultra-mega” plants in Rajasthan, Gujarat, Tamil Nadu, and Laddakh.

The