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2024 Budget: FM Nirmala Sitharaman announces Critical Mineral mission

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Notification 23 Jul 2024 12:35 PM IST Economic Times
Finance Minister Nirmala Sitharaman unveiled the critical Mineral Mission today while presenting the Budget 2024. The mission includes producing and recycling critical minerals and asset acquisitions abroad.
 
Sitharaman stated that the mission's mandate will include technological advancement, a qualified workforce, and a sustainable finance mechanism.
 
"We will set up a critical mineral mission for domestic production, recycling of critical minerals, and overseas acquisition of critical mineral assets. Its mandate will include technology development, skilled workforce, extended producer responsibility framework, and a suitable financing mechanism," Sitharaman said in her budget speech.
 
FM also declared that the government will shortly hold the first round of the mission's offshore mineral auction. The Economic Survey also highlighted the risks its reliance on China for essential minerals faced.

Also Read : India aims to halt thermal coal imports by 2026, encourages switch to domestic sources Govt working on new corpus to offer subsidies to semiconductor manufacturers

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