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General Budget:Nuclear energy mission for R & D of small modular reactors to be set up

A Nuclear Energy Mission for research & development of Small Modular Reactors (SMR) with an outlay of Rs 20,000 crore will be set up, Finance Minister Nirmala Sitharaman announced on Saturday.

General Budget:Nuclear energy mission for R & D of small modular reactors to be set up

Representative Image (Photo: ANI)

A Nuclear Energy Mission for research & development of Small Modular Reactors (SMR) with an outlay of Rs 20,000 crore will be set up, Finance Minister Nirmala Sitharaman announced on Saturday.

At least five indigenously developed SMRs will be operationalized by 2033, she informed the Lok Sabha while presenting the General Budget.

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The minister highlighted that development of at least 100 GW of nuclear energy 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 the Civil Liability for Nuclear Damage Act will be taken up, she added.

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The Budget also proposes that states will be incentivised for electricity distribution reforms and augmentation of intra-state transmission capacity. This will improve the financial health and capacity of electricity companies. The minister informed that additional borrowing of 0.5 per cent of GSDP will be allowed to states, contingent on these reforms.

 

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