TV
Finance Minister Nirmala Sitharaman on Saturday unveiled a series of measures aimed at strengthening India’s atomic power sector, announcing a Rs 20,000-crore Nuclear Mission. The initiative includes amending the legal framework to bring in private players and the indigenous development of five small modular reactors.
Presenting her record eighth consecutive Budget, Sitharaman also introduced incentives for states implementing power sector reforms. These states will be eligible for additional borrowing up to 0.5 per cent of their Gross State Domestic Product (GSDP), providing them with greater financial flexibility to enhance their energy infrastructure.
She said, "Power sector reforms, we will incentivise electricity distribution reforms and augmentation of intra-state transmission capacity by states. This will improve the financial health and capacity of electricity companies. Additional borrowing of 0.5 per cent of GSDP will be allowed to states contingent on these reforms."
Under the Nuclear Energy Mission, she added that Viksit Bharat Development of at least 100GW by 2047 is essential for our energy transition efforts.
For an active partnership with the private sector towards this goal, amendments to the Atomic Energy Act and Civil Liability for Nuclear Damage Act will be taken up, she said.
She further announced that a Nuclear Energy Mission for research and development of small modular reactors with an outlay of Rs 20,000 crore will be set up.
At least five indigenously developed small modular reactors will be operationalised by 2033, she added.
At present, India has 462 GW of power generation capacity, including 8 GW of nuclear power.
(With PTI Inputs)
