Budget 2024: Proposals for critical minerals to help achieve net-zero goals
The Budget announcements related to critical minerals and green transition will not only make India self reliant in resources but also help in meeting net-zero goals, energy industry players said.
In her Budget speech on Tuesday, Finance Minister Nirmala Sitharaman announced a slew of measures for sectors, including infrastructure, manufacturing, healthcare, education, startups, and green energy, among others.
Amit Rautela, CFO of state-owned Meja Urja Nigam said the Budget has strategically addressed present requirement of thermal power with a focus on Advanced Ultra Super Critical (AUSC) technology through joint venture route. Further, duty related measures for critical minerals will make the country self reliant in these important resources.
According to Rahul Walawalkar, President of India Energy Storage Alliance (IESA), the announcement for pumped hydro storage in budget is a key step for supporting long duration energy storage technologies. Abolishment of angel tax is a great