Speaking on the Budget 2023 Vishal Kapoor, MD, and CEO, CESL said “The Finance Minister, Smt. Nirmala Sitharaman has given a big boost to green India initiative and expand the horizon of energy transition through initiatives like fiscal benefits to pump energy transition, battery energy storage via viability gap funding, renewable energy evacuation and green credit program. This will give a big fillip to the efforts to achieve the net zero goal by 2070 as announced by the Honourable Prime Minister, Narendra Modi.
To promote sustainability and encourage shift to electric vehicle (EV) mobility, customs duty exemption has been extended to the import of capital goods and machinery required for the manufacturing of lithium-ion (Li-ion) cells for batteries used in EVs. This will give a big boost to the domestic industry and make them more competitive.
Green hydrogen, pumped hydro, RE evacuation from Ladakh and inclusion of Green Credit in Environment Protection Act will go a long way in decarbonising the Indian economy. This reiterates the commitment of the government towards taking India in a big way to green mobility and achieve the targets set for 2030.
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