Cabinet may OK INR 180 billion outlay for critical minerals mission - source
This story was originally published at 12:07 IST on 29 January 2025
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--Govt source: Cabinet may OK INR 180 billion for critical mineral mission
By Kuldeep Singh
NEW DELHI – The Union Cabinet is likely to approve an outlay of INR 180 billion for the National Critical Minerals Mission, according to a government source. Launched last year, the mission aims to boost domestic production, recycling of critical minerals, and overseas acquisition of critical mineral assets.
The proposal to approve the outlay for critical minerals was on the agenda of the Cabinet meeting on Wednesday, the source said.
The government has identified 30 minerals, including lithium, as "critical" for its energy transition efforts and to meet growing industrial demand. India primarily relies on imports to meet its critical mineral requirements.
In July 2024, the government fully exempted 25 critical minerals from customs duties, and reduced basic customs duties on two of them. "This will provide a major fillip to the processing and refining of such minerals and help secure their availability for these strategic and important sectors," Finance Minister Nirmala Sitharaman had said in her FY25 Budget speech. End
Written by Afra Abubacker
Edited by Tanima Banerjee
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