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Focus on nuclear energy to strengthen power infra: Manohar Lal

Published: Feb 03, 2025

By TIOL News Service

NEW DELHI, FEB 03, 2025: THIS Union Budget 2025-26 aims to initiate transformative reforms across six domains during the next five years and these will augment our growth potential and global competitiveness, said Union Minister for Power and housing and Urban Affairs  Manohar Lal.  He added that out of the six domains the two are:  Power Sector and Urban Development.

The Budget 2025-26 represents a significant milestone for the power sector, ushering in transformative reforms that will drive India's growth and pave the way for a secure, sustainable, resilient, and affordable energy future, said Union Minister for Power Manohar Lal.

Manohar Lal remarked that the government's dedication to improving the financial and operational stability of electricity distribution companies, coupled with incentives for enhancing intra-state transmission capacity, will greatly boost the efficiency of the power sector.

He states that the announcement of fully exemption of  scrap of lithium-ion battery, Lead, Zinc and 12 more critical minerals from basic custom duty is also a welcome decision. This will help secure their availability for manufacturing of batteries in India and promote more jobs for our youth.  The budget also proposed to add 35 additional capital goods in exempted list for EV battery manufacturing for electric vehicles.

Commending the emphasis on nuclear energy, he stated that the vision to develop at least 100 GW of nuclear power by 2047 underscores India's ambitious yet essential transition towards clean energy.

Welcoming the launch of the Nuclear Energy Mission, he highlighted that the Rs.20,000 crore allocation for research and development in Small Modular Reactors (SMRs) marks a significant step forward. He further emphasized that the target of operationalizing at least five indigenously developed SMRs by 2033 will strengthen India's energy security and solidify its leadership in advanced nuclear technology.

Union Minister for Power Manohar Lal said that the focus on nuclear energy will strengthen the country's power infrastructure and reduce dependence on conventional sources. This budget sets the stage for a resilient, efficient, and sustainable energy future, ensuring that India's economic growth is powered by clean and reliable energy, he stated.

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