Push for clean energy, critical minerals

Nuclear energy is expected to form a significant part of the energy mix for Viksit Bharat (developed India), Union finance minister Nirmala Sitharaman said in her budget speech on Saturday, as she announced a ₹20,000 crore allocation for a programme for the research and development (R&D) of small modular reactors.

- Jayashree Nandi

NEW DELHI: She also said the central government plans to amend the Atomic Energy and Civil Liability for Nuclear Damage acts to realise the country's 100GW atomic energy goal by 2047.

While announcing the Nuclear Energy Mission, Sitharaman said the government will partner with the private sector to set up Bharat Small Reactors, for the R&D of Bharat Small Modular Reactors and for the R&D of newer technologies for nuclear energy.

The finance minister also proposed to completely exempt customs duties on cobalt powder and waste, scrap of lithium-ion battery, Lead, Zinc and 12 more critical minerals to promote domestic manufacturing to boost battery production, additional capital goods for EVs and mobile battery manufacturing. This is in addition to the 25 critical minerals fully exempted of Basic Customs Duty (BCD) in the July 2024 Union Budget.

"Minerals such as lithium, copper, cobalt and rare earth elements are critical for sectors like nuclear energy, renewable energy, space, defence, telecommunications, and high-tech electronics," she said.