Finance Minister’s budget speech in Lok Sabha on 29.02.2016 for 2016-17 budget included the following reference to nuclear energy:

“In the power sector, we need to diversify the sources of power generation for long term stability.  Government is drawing up a comprehensive plan, spanning next 15 to 20 years, to augment the investment in nuclear power generation.  Budgetary allocation up to Rs 3,000 crore per annum, together with public sector investments, will be leveraged to facilitate the required investment for this purpose.”

To meet the large equity requirements involved in implementation of the planned nuclear power expansion programme, formation of Joint Ventures (JV) of Nuclear Power Corporation of India Limited (NPCIL) with other PSUs was contemplated. In this context, NPCIL entered into Joint Ventures (JV) with Public Sector Undertakings NTPC Limited, Indian Oil Corporation Limited and National Aluminium Company Limited (NALCO). The Government also brought an Amendment of the Atomic Energy Act to enable Joint Ventures of Public Sector Companies to set up nuclear power projects.

The equity funding of the projects presently under construction and projects whose administrative approval and financial sanction is available, have been tied up.

This information was provided by the Union Minister of State (Independent Charge) Development of North-Eastern Region (DoNER), MoS PMO, Personnel, Public Grievances & Pensions, Atomic Energy and Space, Dr Jitendra Singh in written reply to a question in Rajya Sabha today.

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BB/NK/PJ