New Delhi: The government is considering amendments to the Atomic Energy Act and the Civil Liability for Nuclear Damage Act to push private investments into the nuclear space, Parliament was informed on Monday. India has set an ambitious target of achieving 100 GW of nuclear power capacity by 2047.
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Major steps have been taken by the government to diversify the country’s energy portfolio through nuclear energy, Minister of State (MoS) for Power Shripad Naik said in a written reply to the Rajya Sabha.
Naik said a dedicated Nuclear Energy Mission with an allocation of Rs 20,000 crore has been launched to develop at least five indigenously designed Small Modular Reactors (SMRs) by 2033 and promote advanced nuclear technologies.
He stated that “amendments to the Atomic Energy Act, 1962 and the Civil Liability for Nuclear Damage Act, 2010 are (also) being taken up to encourage private sector investment.”
The Atomic Energy Act currently does not allow participation of the private sector or even state governments in nuclear projects.
The Civil Liability for Nuclear Damage Act provides prompt compensation to victims for damage caused by a nuclear incident through a no-fault liability regime.
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A Ministry of Power-constituted committee had earlier suggested legislative amendments to overcome challenges facing the 100 GW nuclear capacity target by 2047. It said these measures would not only attract private investment in the nuclear space but also help with faster clearances required to set up such projects.