Nuke: Proposed Customs Duty Cut
To further promote domestic manufacturing heavy industries, the Finance Minister Nirmala Sitharaman has proposed in 2019-20 Budget customs duty reductions on certain raw materials and capital goods needed for nuclear power plants.
The Minister gave details of the proposed duty in the budget tabled in parliament on 5 July 2019.
The customs duty reduction will be applicable for the following nuclear power plants:
MahiBanswara Atomic Power project: 1 to 4,
Kaiga Atomic Power project: 5 & 6,
Gorakhpur Atomic Power project: 3 & 4,
Chutka Atomic Power project: 1 & 2.
The Department of Atomic Energy (DAE) has been allocated Rs.16,925 crore for FY 2019-20.
The outlay for major schemes:
Nuclear fuel inventory: Rs.749 crore 2019-2020 (Rs.417 crore in 2018-19).
R&D basic Science and Engineering: Rs.1,320 cro (Rs.1,000 crore).
R&D for Fast Reactor S&T: Rs.271 crore (Rs.210 crore)
Backed Fuel cycle projects: Rs.440 crore (Rs.240 crore).
Radiation & Isotopes project: Rs.110 crore (Rs.30 crore).
Nuclear Power Projects: Rs.110 crore (Rs.64 crore).
Nuclear Fuel Projects: Rs.170 crore (Rs.164 crore).
AERB Expansion Project: Rs.40 crore (Rs.15 crore). fiinews.com