India, Feb. 2 -- The Union Budget aims to accelerate grid-scale energy storage and enable seamless integration of renewable energy, Union Minister Pralhad Joshi said on Sunday. Sharing his views on the budget announcements by Finance Minister Nirmala Sitharaman, the Minister of New and Renewable Energy (MNRE) Joshi said the Union Budget takes a decisive step towards advancing India's renewable energy and storage ecosystem.

He said that by extending the Basic Customs Duty (BCD) exemption on capital goods used in the manufacturing of lithium-ion cells for batteries and Battery Energy Storage Systems (BESS), the budget aims to accelerate grid-scale energy storage and enable seamless integration of renewable energy.

Additionally, the exempt...