New Delhi, Feb. 1 -- Finance Minister Nirmala Sitharaman has proposed to completely exempt colbalt powder and waste, lithium-ion battery scrap, lead, zinc and 12 other critical minerals in Budget 2025. Sitharaman also announced the inclusion of 35 additional capital goods for EV battery manufacturing and 28 additional capital goods for mobile phone battery manufacturing.

Speaking during her 8th budget speech, Sitharaman said, "To the list of exempted capital goods, I propose to add 35 additional capital goods for EV battery manufacturing and 28 additional capital goods for mobile phone battery manufacturing. This will boost the domestic manufacture of lithium-ion batteries both for mobile phones and for electric vehicles."

Sitharaman ha...