Union Minister of Finance and Corporate Affairs, Nirmala Sitharaman, while presenting the Budget 2025-2026 in the Parliament today said that a Nuclear Energy Mission for Research & Development (R&D) of Small Modular Reactors (SMR) with an outlay of Rs. 20,000 crore will be set up.

At least 5 indigenously developed SMRs will be operationalized by 2033, she informed.

Sitharaman highlighted that development of at least 100 GW of nuclear energy by 2047 is essential for our energy transition efforts. For an active partnership with the private sector towards this goal, amendments to the Atomic Energy Act and the Civil Liability for Nuclear Damage Act will be taken up.

The Budget also proposes that states will be incentivized for electricity distribution reforms and augmentation of intra-state transmission capacity. This will improve the financial health and capacity of electricity companies. The Minister informed that additional borrowing of 0.5 per cent of GSDP will be allowed to states, contingent on these reforms.