Big announcements made by Finance Minister Nirmala Sitharaman included private sector participation to develop new technologies for nuclear energy and build small modular reactors, apart from fiscal support for advanced ultra-super critical thermal power plants, and a policy for pumped storage
In a first, the Union government has green-lighted private participation in developing nuclear power as part of India’s energy mix. “Nuclear energy is expected to form a very significant part of the energy mix for Viksit Bharat,” said Finance Minister Nirmala Sitharaman in her Budget speech on July 23, adding that the government will partner with the private sector for research and development of newer technologies for nuclear energy, setting up small reactors, and R&D of Bharat small modular reactor. “The R&D funding announced in the interim Budget will be made available for this sector,” she said.