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Union Budget 2026-27: Sitharaman extends tax exemption on capital goods used to make lithium-ion cells for battery storage

The Union Budget 2026-27 announced by Finance Minister Nirmala Sitharaman has extended the tax exemption on capital goods used to manufacture lithium-ion cells for battery storage. This measure aims to promote the domestic production of lithium-ion batteries, which are crucial for electric vehicles and renewable energy storage. Additionally, the budget proposed to exclude the entire value of biogas while calculating the excise duty levy on biogas-blended compressed natural gas (CNG). This move is expected to incentivize the use of cleaner and more sustainable fuel alternatives.