Finance Minister announced Rs 20,000 crore allocation for Nuclear Energy Mission.
New Delhi: Union Finance Minister Nirmala Sitharaman, in her Budget speech on Saturday, announced a budget of Rs 20,000 crore for the Nuclear Energy Mission, marking a major step towards clean energy.
She stated that the government aims to develop at least 100 GW of nuclear energy by 2047 as part of the energy transition.
Sitharaman also emphasised that nuclear power plants would be established in partnership with private players.
“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 undertaken,” she said in her budget speech
It is important to note that boosting nuclear energy at this time is important, as it can replace coal as the base load for the power sector in India.
According to the 2025 Budget, the Nuclear Energy Mission, with an outlay of Rs 20,000 crore for research and development of Small Modular Reactors (SMRs), will be set up. At least 5 indigenously developed SMRs will be operational by 2033.
At present, nuclear energy production in India is largely controlled by government-run entities. India also aims to achieve net zero emissions by 2070.
Atomic energy is considered as one of the most effective measures for providing nearly zero carbon emissions while supplying base load power. This is why many countries are now opting for nuclear energy to address climate change while simultaneously increasing their electricity production.