In Budget 2022, Rs 1400 crore has been announced for hydro and solar power projects. After this announcement, there is a huge rise in the shares of power sector companies.
There will be emphasis on charging station development.
Finance Minister Nirmala Sitharaman (Nirmala Sitharaman) gave the budget speech (Budget 2022) in electric vehicle (Electric VehiclesA big announcement has been made regarding the development of electric vehicle charging station infrastructure to promote it. In his address, he said that massive investment will be made in charging stations to promote electronic vehicles. Electronic vehicles will also be promoted in public transport. Sitharaman said that in the coming days the government will come up with a battery swapping policy. Special mobility zones will be created for electric vehicles. Apart from this, emphasis will be given on electric vehicles in public transport as well.
Apart from this, Rs 1400 crore has been announced for hydro and solar power projects. After this announcement, there is a huge rise in the shares of power sector companies. Adani Power is seeing a rise of 2.70 percent and Tata Power’s shares are up by 2.30 percent.
To facilitate domestic manufacturing for ambitious goal of 280 GW of installed solar capacity by 2030, addl allocation of Rs 19,500 cr for PLI for manufacturing of high-efficiency modules with priority to fully integrate manufacturing units to solar PV modules will be made: FM pic.twitter.com/aVWE30hAZF
— ANI (@ANI) February 1, 2022
The government has set a target of 280 GW of solar power installation by 2030. For this, an additional Rs 19500 crore has been announced in the budget under the PLI scheme. This fund will be used to make solar pawnee modules.
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