UPSC-Relevant News Items

1. Cabinet Clears Amendments to Atomic Energy Act, Allowing Private and Foreign Equity in Nuclear Power

Page: 6

Summary:

• The Cabinet approved amendments to the Atomic Energy Act, 1962, allowing private firms to take up to 49% minority equity in nuclear power projects.
• This move aims to increase India's nuclear capacity to 100 GWe by 2047, addressing the urgent need for stable baseload power generation.
• Amendments also seek to ease foreign investment concerns regarding supplier liability and promote R&D in Small Modular Reactors (SMRs).

Additional Facts:

• The Department of Atomic Energy (DAE) utilizes the foundational Atomic Energy Act, 1962, to govern policy changes, set strategic capacity targets (100 GWe), and define equity models.
• The government employs statutory amendments as a regulatory mechanism to facilitate minority foreign equity participation and address supplier liability concerns crucial for attracting investment in nuclear technologies like SMRs.

Linkage with UPSC course:

• GS Mains (GS-3):
• • Infrastructure: Energy
• • Indian Economy and issues relating to planning, mobilization of resources, growth, development
• • Science and Technology—developments and their applications and effects in everyday life

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