From pv magazine India
Green growth is one of the seven priorities in India's Union Budget 2023-24. As the nation targets net-zero carbon emission by 2070, “the budget builds on the government’s focus on green growth,” Finance Minister Nirmala Sitharaman said in a speech this week.
The budget focuses on emerging clean technologies such energy storage, green hydrogen, and electric mobility. It also signifies the government’s resolve to boost domestic solar and battery manufacturing, while waiving import duties on capital goods and machinery needed to manufacture lithium battery cells for EVs.
Popular content
In addition, Sitharaman has announced viability gap funding (VGF) for battery energy storage projects with capacities of 4 GWh. A detailed framework for pumped storage projects will also be formulated. Customs duty has been waived on capital goods and machinery required to manufacture lithium-ion cells for batteries used in electric vehicles.
To continue reading, please visit pv magazine India.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.