Picture: PIB, authorities of India
From pv journal India
Inexperienced progress is among the seven priorities of India’s Union Funds 2023-24. Because the nation targets net-zero carbon emissions by 2070, “the funds builds on the federal government’s deal with inexperienced progress,” Finance Minister Nirmala Sitharaman mentioned in a speech this week.
The funds focuses on new clear applied sciences reminiscent of power storage, inexperienced hydrogen, and electrical mobility. It additionally signifies the federal government’s dedication to develop home photo voltaic and battery manufacturing, whereas eradicating import duties on capital items and equipment wanted to fabricate lithium battery cells for EVs.
Moreover, Sitharaman introduced viability hole funding (VGF) for battery power storage initiatives with a capability of 4 GWh. An in depth framework for pumped storage initiatives may also be developed. Customs responsibility is waived on capital items and equipment required to fabricate lithium-ion cells for batteries utilized in electrical autos.
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