New Delhi, Feb. 1 -- The electric vehicle industry welcomed the reduction in customs duty on lithium cells and subsidy extension on batteries announced in the Union Budget 2023-24 by Finance Minister Nirmala Sitharaman on Wednesday.

The sustainability measures taken through announcements on green hydrogen and other energy sectors will help in furthering the government's target of carbon neutrality by 2070.

The increased Capex outlay on energy transition is likely to spur investments and skill development in a green economy.

An increase in spending on infrastructure, setting up of 50 new airports and heliports, creation of 100 transport infrastructure projects are welcome moves, in addition to the central support for replacing old vehic...