Chandigarh, Feb. 5 -- Union Energy, Housing and Urban Development Minister Manohar Lal Khattar has asked officials to speed up old projects and complete the new schemes on a priority basis.
In the Union Budget 2025-26, several initiatives have been taken to realise many new resolutions of the Ministry of Energy, Housing and
Urban Development. Prominent among these is the commitment to improve the financial and operational stability of power distribution companies.
Besides this, incentives will be given in the power sector to increase the transmission capacity. In the next five years, a target has also been set to increase global competitiveness along with the development potential of the country. At the same time, to speed up the manufacturing of batteries in the country, it has been decided to completely exempt lithium-ion battery scrap, lead, zinc and 12 other important minerals from basic customs duty.
To promote the electric vehicle manufacturing sector, the ministry has also started the exercise to speed up the addition of 35 more capital goods to the list of exemptions for EV battery manufacturing in the Union Budget.
Furthermore, a target has been set to develop 100 gigawatts of nuclear energy by the year 2047. Along with this, a sum of Rs 20,000 crore has been allocated for Small Modular Reactor Research and Development for the launch of the Nuclear Energy
Mission.
At the same time, a target has been set to start at least five indigenously developed Small Modular Reactor Research and Development (SMRS) by 2033, the ministry stated.
Published by HT Digital Content Services with permission from Millennium Post.