Finance Minister cuts customs duty on minerals critical for energy transition
New Delhi (PTI): Finance Minister Nirmala Sitharaman on Tuesday announced a cut in customs duty on minerals such as lithium, copper and cobalt, which are critical for nuclear energy, renewable and other sectors, to give a fillip to the energy transition.
In her budget speech in Lok Sabha, Sitharaman recalled that in the interim budget she had announced a strategy to sustain high and more resource-efficient economic growth, along with energy security in terms of availability, accessibility and affordability.
"We will bring out a policy document on appropriate energy transition pathways that balances the imperatives of employment, growth and environmental sustainability," she said.
Noting that minerals such as lithium, copper, cobalt and rare earth elements are critical for sectors like nuclear energy, renewable energy, space, defence, telecommunications, and high-tech electronics, she proposed to fully exempt customs duties on 25 critical minerals and reduce BCD (basic customs duty) on two of them.
This will provide a major fillip to the processing and refining of such minerals and help secure their availability for these strategic and important sectors, she said.
She stated that energy transition is critical in the fight against climate change.
To support energy transition, she proposed to expand the list of exempted capital goods for use in the manufacture of solar cells and panels in the country.
Further, she stated that in view of sufficient domestic manufacturing capacity of solar glass and tinned copper interconnect, I propose not to extend the exemption of customs duties provided to them.
Noting that steel and copper are important raw materials and to reduce their cost of production, she proposed to remove the BCD on ferro nickel and blister copper.
"I am also continuing with nil BCD on ferrous scrap and nickel cathode and concessional BCD of 2.5 per cent on copper scrap," she said.
About the PM Surya Ghar Muft Bijli Yojana, which was rolled out earlier this year, he informed the House that in line with the announcement in the interim budget, PM Surya Ghar Muft Bijli Yojana has been launched to install rooftop solar plants to enable 1 crore households obtain free electricity up to 300 units every month.
The scheme has generated remarkable response with more than 1.28 crore registrations and 14 lakh applications, and we will further encourage it, he stated.
She further stated that a policy for promoting pumped storage projects will be brought out for electricity storage and facilitating smooth integration of the growing share of renewable energy with its variable & intermittent nature in the overall energy mix.
She stated that nuclear energy is expected to form a very significant part of the energy mix for Viksit Bharat.
Towards that pursuit, our government will partner with the private sector for setting up Bharat Small Reactors; research & development of Bharat Small Modular Reactor and research & development of newer technologies for nuclear energy, she informed the House.
The R&D funding announced in the interim budget will be made available for this sector, she added.
The development of indigenous technology for Advanced Ultra Super Critical (AUSC) thermal power plants with much higher efficiency has been completed, she informed the House.
A joint venture between NTPC and BHEL will set up a full-scale 800 MW commercial plant using AUSC technology and the government will provide the required fiscal support, she added.
Moving forward, the development of indigenous capacity for the production of high-grade steel and other advanced metallurgy materials for these plants will result in strong spin-off benefits for the economy, she pointed out.
A roadmap for moving the ‘hard to abate’ industries from ‘energy efficiency’ targets to ‘emission targets’ will be formulated, she stated adding that appropriate regulations for the transition of these industries from the current ‘Perform, Achieve and Trade’ mode to ‘Indian Carbon Market’ mode will be put in place.
She further stated that an investment-grade energy audit of traditional micro and small industries in 60 clusters, including brass and ceramic, will be facilitated.
Financial support will be provided for shifting them to cleaner forms of energy and implementation of energy efficiency measures. The scheme will be replicated in another 100 clusters in the next phase, she stated.
Gaurav Kedia, Chairman, Indian Biogas Association said that the Union Budget 2024 has unveiled a roadmap towards a sustainable and resilient India, with agriculture and energy security at its core.
It is anticipated that these initiatives will catalyze the growth of the biogas industry, leading to increased rural employment, reduced carbon emissions, and improved soil health, he stated.
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Sringeri postal ballot recount: Cong MLA Raje Gowda’s tally reduced by 255 votes
Chikkamagaluru (Karnataka) (PTI): After the reverification and recount of postal ballots for the Sringeri Assembly constituency, votes polled for Congress MLA T D Raje Gowda were reduced by 255, the returning officer said.
A report on the matter has been submitted to the Election Commission for further decision, he said.
Following a Karnataka High Court order on the election petition filed by BJP’s defeated candidate D N Jeevaraj challenging Raje Gowda’s election, the reverification and recounting took place on Saturday and continued until midnight.
Raje Gowda had won the 2023 Assembly polls from Sringeri by 201 votes.
“The High Court on April 6 had ordered reverification and recounting. As per that order, the exercise has been completed. The court order did not direct us to announce the results; it also did not refer to EVM votes. The order was specific only to postal ballots,” returning officer Gaurav Kumar Shetty said.
Speaking to reporters late on Saturday night, he said, “During the 2023 vote counting, Jeevaraj had received 692 votes, while Raje Gowda had received 569 votes. Now, after reverification and recounting, Jeevaraj has 690 valid votes, which is two votes less than earlier, while Raje Gowda has 314 votes, a difference of 255 votes.”
After the reverification and recounting as per the court order, the strong room was sealed, and a report was sent to the Election Commission.
The returning officer said that as per Election Commission rules, there are clear guidelines on how to accept or reject a vote, and the procedure was followed accordingly.
Regarding allegations of vote tampering, he said the allegations are criminal in nature and do not fall under his jurisdiction.
Jeevaraj, speaking to reporters, said, “As per the current count, I have the majority. Officials have said that the Election Commission will make the formal announcement. I will wait for the Commission’s order.”
Raje Gowda expressed doubts about “vote tampering” and demanded a detailed inquiry into Jeevaraj and others. He said he would file a case in this regard.
“There are markings on the ballots polled in my favour. Different ink has been used; it is clearly visible. During the 2023 counting, all those ballots were deemed valid in the presence of counting agents of all parties. Now, such votes have been declared invalid, bringing down my tally,” he told reporters.
Raje Gowda and his supporters had earlier celebrated on Saturday, claiming the results were in their favour.
Meanwhile, Deputy Chief Minister and state Congress president D K Shivakumar on Sunday alleged a “big conspiracy” in Sringeri.
Speaking to reporters in Bengaluru, he said the Congress would take up the matter legally and would pursue all possible steps from the government.
“No one can imagine that they (the BJP) will indulge in such criminal activity. This is evidence of how former MLA Jeevaraj misused officials close to him. I have received a report, and I am studying it. It is systematic criminal activity. I will go through the report and take further action. I had been watching developments overnight,” he added.
State BJP president B Y Vijayendra said that, as per his information, the Congress was pressuring officials not to declare the results.
Speaking to reporters in Tumakuru, he said, “Jeevaraj, after losing the election, went to court. Now, after the High Court order, recounting has happened, and Jeevaraj has won by 56 votes. There appears to be a conspiracy by the ruling Congress to delay the announcement of results to allow Raje Gowda time to approach the High Court.”
Jeevaraj has already faced “injustice” for about three years by being denied the MLA post, Vijayendra said. “The injustice should not continue, and the Congress should accept the mandate of the people.”
Leader of Opposition R Ashoka accused the Congress and its leader, Rahul Gandhi, of “vote theft.”
“The Congress, which has been illegitimately enjoying power in the Sringeri Assembly seat for the past three years, now faces humiliation. This is not merely the victory of one individual; it is the victory of democracy. It is a hard-earned triumph for the value of the votes cast by Sringeri’s voters,” he posted on X, congratulating Jeevaraj.
