No more customs duty for the Nuclear Power Plants in India

No more customs duty for the Nuclear Power Plants in India

The annual budget presented to the Indian Parliament exposed a reduction of Rs. 40 crores (5.7 Million USD) to the Department of Atomic Energy.

Nirmala Sitharaman, Finance Minister, announced the decision to lift customs duty for equipment needed for the construction of the following plants:

  • Mahi Banswara NPP (Units 1 – 4)
  • Kaiga NPP (Units 5 – 6)
  • Gorakhpur NPP (Units 3 – 4)
  • Chutka NPP (Units 1- 2)

In the financial year 2018-19, the Department of Atomic Energy has allocated 16,965.25 crore rupees (app. 2,392.015 Billion USD), which has decreased to Rs 16,925.51 crore (app. 2,392.052 Billion USD) in the financial year 2019-20.

Nuclear Power Corporation of India (NPCIL) also witnessed large cuts from Rs 4,665 crore (app. 657,66 Million USD) in 2018-19 to Rs 3,000 crore (app. 422,93 Million USD) in 2018-19.

India will also lift the 2.5 percent customs duty on uranium ore, and 7.5 percent on U-235, plutonium and aggregates.

About Author

Arnaud Lefevre

Arnaud Lefevre is the Chief Executive Officer of Dynatom International. Arnaud is in charge of the international development of the business portfolio.