FM Unveils Rs 20k Cr Nuclear Mission, Proposes Law Amendments to Include Private Players

Presenting her record eighth consecutive Budget, Sitharaman also announced that all states implementing power reforms would be eligible for additional borrowing equal to 0.5 percent of their Gross State Domestic Product (GSDP).

Finance Minister Nirmala Sitharaman on Saturday announced a slew of measures to boost atomic power in the country, including a ₹20,000-crore Nuclear Mission, bringing in private players by amending the legal framework, and the development of five small modular reactors indigenously.

Presenting her record eighth consecutive Budget, Sitharaman also announced that all states implementing power reforms would be eligible for additional borrowing equal to 0.5 percent of their Gross State Domestic Product (GSDP).

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She added, "For power sector reforms, we will incentivize electricity distribution reforms and the augmentation of intra-state transmission capacity by states. This will improve the financial health and capacity of electricity companies. An additional borrowing of 0.5 percent of GSDP will be allowed to states, contingent on these reforms."

Under the Nuclear Energy Mission, she stated that the development of at least 100 GW of power by 2047 is crucial for India’s energy transition efforts. "For an active partnership with the private sector toward this goal, amendments to the Atomic Energy Act and the Civil Liability for Nuclear Damage Act will be taken up," she said.

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She also announced the establishment of a Nuclear Energy Mission for the research and development of small modular reactors with an outlay of ₹20,000 crore.

At least five indigenously developed small modular reactors will be operationalized by 2033, she added.

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Currently, India has a total power generation capacity of 462 GW, including 8 GW of nuclear power.

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