From pv journal India

Inexperienced progress is without doubt one of the seven priorities of India’s Union Finances 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 comparable to power storage, inexperienced hydrogen, and electrical mobility. It additionally signifies the federal government’s willpower 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 tasks with a capability of 4 GWh. An in depth framework for pumped storage tasks may even be formulated. Customs obligation is waived on capital items and equipment required to fabricate lithium-ion cells for batteries utilized in electrical automobiles.

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