In her Union Budget speech on July 23, Finance Minister Nirmala Sitharaman announced a significant push towards expanding India’s nuclear energy capabilities. The government plans to collaborate with the private sector to develop and manufacture small nuclear reactors, named Bharat Small Reactors. This initiative is part of India’s broader strategy to increase its nuclear power generation capacity.
Following Dr. Jitendra Singh’s resumption as the Union Minister for Science and Technology, a high-level review meeting was held to discuss the Department of Atomic Energy’s 100-day action plan. Singh highlighted that India’s nuclear power capacity is projected to grow by around 70 percent over the next five years.
“Nuclear energy is expected to become a crucial part of India’s energy mix,” said Sitharaman. She detailed plans for research and development of Bharat Small Modular Reactors and other nuclear technologies. The funding announced in the Interim Budget will support these efforts.
Currently, India’s nuclear energy capacity stands at 7.48 gigawatts of electricity (GWe) and is expected to rise to 13.08 GWe by 2029 with the addition of seven new reactors. Earlier this year, reports indicated that Russian nuclear power giant Rosatom is in discussions with India about supplying technology for small modular reactors.
The Economic Survey 2023-24, presented on July 22, underscored the need for India to diversify its energy sources to enhance energy security and meet its national climate goals.
