BUDGET
Govt aims 100 GW nuclear energy capacity by 2047; to amend two Acts
This story was originally published at 13:39 IST on 1 February 2025
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--BUDGET: To amend Atomic Energy Act to raise 100 GW nuclear energy capacity
--BUDGET: Nuclear energy mission worth INR 200 bln for R&D in reactors
--BUDGET: To set up five local, small modular nuclear reactors by 2033
--BUDGET: To allow extra borrow of 0.5% of GSDP to states for power reforms
HYDERABAD – Finance Minister Nirmala Sitharaman, while presenting the Union Budget for 2025-26 (Apr-Mar) on Saturday, proposed to amend a couple of Acts related to atomic energy regulations in the country to encourage and facilitate investment from the private sector and augment capacity. "For an active partnership with the private sector towards this goal, amendments to the Atomic Energy Act and the Civil Liability for Nuclear Damage Act will be taken up," Sitharaman said.
As part of the Viksit Bharat plan, the finance minister announced the Nuclear Energy Mission that aims to develop at least 100 GW nuclear energy by 2047. It is an important step in the efforts to transition to clean energy, Sitharaman said. The government has allocated INR 200 billion to set up the Nuclear Energy Mission focused on the research and development of small modular reactors. At least five indigenously developed small modular reactors will be operationalised by 2033, she added.
In a major relief to states, the government will allow additional borrowing of 0.5% of Gross State Domestic Product contingent on power sector reforms, Sitharaman said. The minister said the Centre will incentivise electricity distribution reforms and augmentation of intrastate transmission capacity by states. This will improve the financial health and capacity of electricity companies, the minister said.
Reported by Narayana Krishna
Edited by Deepshikha Bhardwaj
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