Budget 2019: Atomic energy department sees marginal dip in allocation; customs duty cut on nuclear fuel

By: |
Updated: July 5, 2019 6:31:07 PM

Union Budget 2019 India: The allocation for Nuclear Power Corporation of India (NPCIL) has gone down drastically from Rs 4,665 crore in 2018-19 to Rs 3,000 crore in 2019-20.

budget 2019, budget 2019 india date, Atomic Energy, budget highlights, nirmala sitharaman, indian economy, budget 2019 india, budget 2019 date july, buget 2019 expectations, budget 2019 pdf, budget 2019 time, budget 2019 news, budget 2019 july, budget 2019 liveBudget 2019 India: In 2018-19, the DAE was allocated Rs 16,965.25 crore, which has come down to Rs 16,925.51 crore in 2019-20.

Union Budget 2019 India: The Department of Atomic Energy has seen a dip of Rs 40 crore in its monetary allocation in the annual Budget presented on Friday. Finance Minister Nirmala Sitharaman on Friday also announced waving the custom duty for nuclear power and parts required for building eight indigenous atomic power plants. In 2018-19, the DAE was allocated Rs 16,965.25 crore, which has come down to Rs 16,925.51 crore in 2019-20.

The allocation for Nuclear Power Corporation of India (NPCIL) has gone down drastically from Rs 4,665 crore in 2018-19 to Rs 3,000 crore in 2019-20. The NPCIL operates 22 nuclear power plants in the country. To further promote domestic production, customs duty reductions have also been proposed on fuels for nuclear power plants.

Union Budget 2019 LIVE: Petrol costlier, more tax on rich, housing relief to middle class announced; PAN, Aadhaar interchangeable

Customs duty, which is presently 2.5 per cent, for all forms of uranium ores and concentrates for generation of nuclear power will be nil. The customs duty for uranium enriched in U-235 or its compounds, plutonium and its compounds, mixtures for generation of nuclear power will also be nil.

Currently, it is at 7.5 per cent. There will be no custom duty on import of all goods required for setting up of the 10 indigenous nuclear power plants — Mahi Banswara Atomic Power project – 1 to 4, Kaiga Atomic Power project – 5 and 6, Gorakhpur Atomic Power project – 3 and 4, and Chutka Atomic Power project – 1 and 2.

For latest coverage on Budget 2019-20 log on to financialexpress.com. We bring you full coverage of Union Budget 2019 Live. Stay Connected.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

FinancialExpress_1x1_Imp_Desktop