Union Finance Minister Nirmala Sitharaman, while presenting the Budget on Sunday, also placed emphasis on energy transition and energy security.
In her Budget speech in Parliament, she announced the continuation of basic Customs Duty exemptions on capital goods used in the manufacturing of lithium-ion cells, including those meant for battery energy storage systems. The Union Budget 2026 has thus retained tariff exemptions on lithium-ion components to support and boost the electric vehicle (EV) industry.
Moreover, FM Nirmala Sitharaman has also proposed to provide basic Customs Duty exemption to the import of capital goods required for the processing of critical minerals in India, especially on Bio Gas Blended CNG.
During her budget speech in Parliament, FM Nirmala Sitharaman announced the exclusion of the entire value of biogas while calculating the central excise duty payable on biogas-blended CNG.
In the Indirect Tax measures, Union Finance Minister @nsitharaman proposed basic customs duty and central excise duty reforms to energy transition and security#ViksitBharatBudget #Budget2026 pic.twitter.com/KhsKtWjZrQ
тАФ PIB India (@PIB_India) February 1, 2026
Finance Minister Sitharaman presented her record ninth consecutive Union budget today in the Parliament. On Thursday, Union Finance Minister Nirmala Sitharaman tabled the Economic Survey of India in Parliament for the financial year 2025-26.
The tabling of the Economic Survey ahead of the Budget follows the long-standing tradition of outlining the state of the economy before detailing future fiscal plans. The document provided a comprehensive, data-backed review of the economyтАЩs performance over the previous year and offers a broad roadmap for future policy direction. As the governmentтАЩs flagship annual report, it reviews key economic developments over the past 12 months.
