India's Bold Nuclear Leap: A Rs 20,000 crore Endeavor

Finance Minister Nirmala Sitharaman announced a Rs 20,000-crore Nuclear mission to boost atomic power in India by amending laws and engaging private players. Five indigenously developed small modular reactors will be developed by 2033, with states receiving incentives for power reforms.

Finance Minister Nirmala Sitharaman has taken a decisive step to advance India's nuclear capabilities, revealing a comprehensive Rs 20,000-crore Nuclear mission aimed at bolstering atomic power in the nation.

The initiative involves amendments to the legal framework to allow private sector involvement and includes the development of five indigenously constructed small modular reactors to be operational by 2033. This move comes alongside incentives for states implementing power sector reforms that enable additional borrowing equivalent to 0.5% of their GSDP.

This mission underscores an energy transition goal of developing 100GW by 2047, essential for the country's future energy strategies. India's current power generation capacity stands at 462 GW, which includes 8 GW from nuclear energy.