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.



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