NEW DELHI, Feb 1: The emphasis on nuclear energy in the Budget is set to enhance the nation’s power infrastructure and lessen reliance on traditional energy sources, stated Union Minister Manohar Lal on Saturday.
During her budget address, Union Finance Minister Nirmala Sitharaman unveiled a series of proposals covering areas such as taxation, infrastructure, and nuclear energy, among others.
The goal of achieving at least 100 GW of nuclear power by 2047 highlights India’s ambitious yet necessary shift toward clean energy, according to the power minister.
The focus on nuclear power is crucial for fortifying the country’s energy framework and minimizing reliance on conventional fuels, he noted.
Expressing support for the launch of the Nuclear Energy Mission, the minister mentioned that the allocation of Rs 20,000 crore for research and development in Small Modular Reactors (SMRs) marks a significant advancement.
Activating a minimum of five domestically developed SMRs by 2033 is anticipated to enhance the nation’s energy security and reinforce its position in advanced nuclear technology, he added.
The minister further indicated that the Budget for 2025-26 signifies a pivotal moment for the energy sector, introducing transformative reforms that will foster India’s development and lay the foundation for a secure, sustainable, and cost-effective energy future.
The government’s commitment to enhancing the financial and operational stability of electricity distribution firms, along with incentives to improve intra-state transmission capacity, will significantly enhance the power sector’s efficiency, he articulated.
Regarding the announcement of complete exemption from basic customs duty on scrap from lithium-ion batteries, lead, zinc, and 12 other critical minerals, the minister stated that this will help ensure their availability for battery manufacturing in India, consequently creating more job opportunities for the youth.
The budget also included proposals to add 35 new capital goods to the exempted list for electric vehicle battery manufacturing. (PTI)
