Lok Sabha passed a bill that will allow state-run NPCIL to have collaboration with other PSUs in the nuclear field. The government has allayed the fears that it will facilitate FDI into the sector or allow participation of a private company in atomic power production. The Atomic Energy Amendment Bill 2015 proposes to amend the 1962 Atomic Energy Act to change the definition of “government company” in the Act with a view to expand its scope by including such joint venture companies as may be formed between NPCIL and other PSUs, according to the statement of object and reasons.
At present, only two Public Sector Undertakings (PSUs) — Nuclear Power Corporation of India Limited (NPCIL) and Bhartiya Nabhikiya Vidyut Nigam Limited (BHAVINI), which are under the administrative control of Department of Atomic Energy, operate nuclear power plants in the country.
- The Nuclear Power Corporation of India Limited (NPCIL) is a government-owned corporation of India based in Mumbai.
- It is wholly owned by the Central Government and is responsible for the generation of nuclear power for electricity.
- NPCIL is administered by the Department of Atomic Energy, Govt. of India (DAE).
What is National Nuclear Insurance Pool?
- In January 2015, the government launched an insurance pool to the tune of Rs. 1,500 crore which is mandatory under the Civil Liability for Nuclear Damage Act (CLND).
- General Insurance Corporation of India (GIC Re) and 11 other non-life insurers have formed the India Nuclear Insurance Pool.
- New India Assurance will issue the policy and deal with management of cover to the operators and suppliers, on behalf of all direct insurance companies participating in the pool.
- In 2010, Parliament passed the Civil Liability of Nuclear Damage(CLND) Act, which creates a liability cap for nuclear plant operators for economic damage in the event of an accident.