Image Source : PIXABAY The move will boost domestic manufacture of lithium-ion batteries.
Green stocks gained on Saturday as the Budget 2025 focused on providing support to clean tech manufacturing to support domestic production of EV batteries and solar panels.
Stocks like Suzlon Energy, Inox Wind and Waaree Energies gained following the announcement. Last seen, Inox Wind was trading at Rs 171.75 with a gain of 2.02 per cent from the previous close of Rs 168.35.
Sitharaman said that 35 additional capital goods for EV battery manufacturing, and 28 additional capital goods for mobile phone battery manufacturing have been exempted from duties.
This will boost domestic manufacture of lithium-ion batteries, both for mobile phones and electric vehicles, she opined.
“Given our commitment to climate-friendly development, the Mission will also support Clean Tech manufacturing. This will aim to improve domestic value addition and build our ecosystem for solar PV cells, EV batteries, motors and controllers, electrolyzers, wind turbines, very high voltage transmission equipment and grid scale batteries,” she said.
Finance Minister Nirmala Sitharaman also announced a Rs 20,000-crore nuclear mission and duty exemptions for crucial minerals and capital goods for electric vehicles to step up energy transition.
Boosting nuclear energy at this time is important as it can replace coal as the base load for the power sector in India.
Presenting her eighth straight budget in the Lok Sabha on Saturday, the minister announced the Nuclear Energy Mission for Viksit Bharat for development of at least 100 GW of nuclear energy by 2047.
She said that the mission is essential for energy transition efforts.
For an active partnership with the private sector towards this goal, amendments to the Atomic Energy Act and the Civil Liability for Nuclear Damage Act will be taken up, she informed the House.
A Nuclear Energy Mission for research & development of Small Modular Reactors (SMR) with an outlay of Rs 20,000 crore will be set up.
At least five indigenously developed SMRs will be operationalized by 2033.
