Budget 2024-25: FM Proposes to Expand Exempted Capital Goods list used Manufacture of Solar Cells and Panels

In the 2024-25 Union Budget, Finance Minister Nirmala Sitharaman proposed expanding the list of exempted capital goods used in manufacturing solar cells and panels. This move aims to boost domestic production and reduce costs for the solar industry. By including more machinery under the exemption, the government intends to encourage investments in renewable energy and support India's transition to greener energy sources. This change is expected to enhance the competitiveness of Indian solar manufacturers by lowering their capital expenditure and fostering growth in the sector.