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Below the Reaction on Union Budget 2025 by Mr. Raman Bhatia, Founder & MD, Servotech Renewable Power System Ltd

I whole heartedly welcome the forward-thinking Budget 2025 presented by Finance Minister Nirmala Sitharaman. The focus on incentivizing electricity distribution reforms and augmenting transmission capacity is a crucial step towards strengthening the power sector, which is fundamental for the growth of renewables and EVs. The practical approach of allowing additional borrowing for states contingent on these reforms is commendable. The inclusion of 35 additional capital goods for EV battery manufacturing is a significant boost to domestic lithium-ion battery production, a critical component for the EV sector. The proposed National Manufacturing Mission, with its focus on "Make in India" and clean tech manufacturing, including solar PV cells, EV batteries, and other key components, signals a strong commitment to sustainable industrial development. I particularly appreciate the emphasis on improving domestic value addition and building our ecosystem for these crucial technologies. The substantial allocation for private sector-driven R&D and innovation is another welcome move that will further accelerate progress. Overall, these budget announcements create a favorable environment for businesses like ours, operating in the renewable energy, EV, and manufacturing sectors, and will contribute significantly to India's clean energy transition and economic growth. I thank Finance Minister Nirmala Sitharaman for her vision and commitment to these critical sectors.

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