India to increase investment in nuclear power

6 May 2016

India's government is preparing "a comprehensive plan" to increase investment in nuclear energy with a proposed federal budget allocation of about INR30bn ($450m) a year for 15-20 years, local media reported. Minister of State for the Department of Atomic Energy, Jitendra Singh, said in a written reply to parliament: "In the budget proposal for the financial year 2016-17, the government has announced drawing up a comprehensive plan, spanning next 15-20 years to augment the investment in the nuclear power generation." The budget allocation will be supplemented by public sector investments, which "will be leveraged to facilitate the required investment for this purpose", Singh said.

A recent amendment to the Atomic Energy Act 1962 created a provision enabling Nuclear Power Corporation of India Ltd to seek equity participation from other public sector undertakings for nuclear energy projects and this will help in infusing additional capital, the Business Standard said. Singh noted, however, that the nuclear industry in India faces problems including the availability of financial resources, land acquisition, availability of water, and a supply chain for components and equipment.

Privacy Policy
We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.