The provision is to make India the global hub for production, usage and export of green hydrogen and its derivatives and to achieve the aim of being self sufficient through clean energy and serve as an inspiration for the global clean energy transition.
The budget’s emphasis on critical minerals, renewable energy expansion, domestic manufacturing, and power sector reforms has drawn positive reactions from various sectors.
Sitharaman said, “To further the Make in India policy, our government will set up a National Manufacturing Mission covering small, medium, and large industries. This mission will provide policy support, execution roadmaps, and a governance and monitoring framework for central ministries and states.”
She said, “To the list of exempted capital goods, I propose to add 35 additional capital goods for EV battery manufacturing and 28 additional capital goods for mobile phone battery manufacturing. This will boost the domestic manufacture of lithium-ion batteries both for mobile phones and for electric vehicles.”
Ahead of the start of the Budget Session on Friday, Prime Minister Narendra Modi said India will fulfil its aim of Viksit Bharat and this Budget Session will give new energy and hope to the nation.
The MoU was signed in the presence of Additional Chief Secretary – Energy, Alok, Chairperson of Rajasthan Discoms, Arti Dogra, and the Managing Directors of JVVNL and AVVNL.
Union Minister for Power and Housing & Urban Affairs Manohar Lal, highlighted the sector’s progress, stating that sustained reforms and policy measures have strengthened financial viability and environmental sustainability.
The government will be well served to address policy gaps which can, in the near term, spur private investments as government capex by itself cannot suffice for the capital hungry energy sectors.
Last week, Trump ordered a pause on spending from his predecessor's climate and infrastructure laws and tax credits in clean industries, as well as suspension of new offshore wind power leasing.
"Energy transition plans must be mindful of geopolitical vulnerabilities and avoid deepening India’s dependence on external sources for critical imports. Strategic thinking is warranted," wrote Chief Economic Advisor V. Anantha Nageswaran in the preface of the survey.
According to the Survey, this segment reached 420.8 thousand gigawatt hours in the 2022-23 provisional data, making up 22.8 per cent of the total gross energy generation.
EnerzyTech® Industries Pvt. Ltd. is an emerging player in India's conventional and non-conventional energy sector and caters to utility, residential, commercial and Government clients. Our emphasis is on renewable energy, solar in particular.
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