Kartavya Bhavan: All about the govt's new seat of power
Show more
Show less
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
6 minutes ago
- Business Standard
Govt likely to allow private cos to mine uranium to help nuclear expansion
India aims to allow private firms to mine, import and process uranium as part of plans to end a decades-old state monopoly over the nuclear sector and bring in billions of dollars to boost the industry, two government sources said. Prime Minister Narendra Modi's government plans to expand nuclear power production capacity by 12 times by 2047 and it is also relaxing requirements to allow foreign players to take a minority stake in power plants, Reuters reported in April. If it meets its expansion goal, nuclear will provide 5 per cent of India's total power needs, according to government estimates. Until now, the state has maintained control over the mining, import and processing of uranium fuel because of concerns over the possible misuse of nuclear material, radiation safety and strategic security. It will retain its grip on reprocessing spent uranium fuel and managing plutonium waste, in line with global practice. But to help meet a surge in demand for nuclear fuel as it expands nuclear power production, the government plans to draw up a regulatory framework that would allow private Indian firms to mine, import and process uranium, the two government sources told Reuters. They asked not to be named because the plans are not yet public. The proposed policy, which the sources said was likely to be made public in the current fiscal year, will also permit private players to supply critical control system equipment for nuclear power plants, they said. The Finance Ministry, Department of Atomic Energy and Prime Minister's Office did not respond to Reuters ' requests for comment. Outside India, countries including Canada, South Africa and the United States allow private firms to mine and process uranium. Domestic supply is not enough India has an estimated 76,000 tonnes of uranium enough to fuel 10,000 megawatts of nuclear power for 30 years, according to government data. But the sources said domestic resources would only be able to meet about 25 per cent of the projected increase. The rest would have to be imported and India would need to increase its processing capacity. In announcing its budget on February 1, the government made public its plans to open up the sector without giving details. Some of India's big conglomerates subsequently began drawing up investment plans. But analysts said amending the legislation could be complex. "It's a major and bold initiative by the Indian Government which is critical for achieving the target," said Charudatta Palekar, independent power sector consultant. "The challenge will be to define quickly the rules of engagement with private sector." New Delhi will have to change five laws, including the ones regulating mining and electricity sectors and India's foreign direct investment policy to enable private participation in many identified activities, the sources said.
Time of India
23 minutes ago
- Time of India
India set to allow its private firms to mine and import uranium to help nuclear expansion
India aims to allow private firms to mine, import and process uranium as part of plans to end a decades-old state monopoly over the nuclear sector and bring in billions of dollars to boost the industry, two government sources said. Prime Minister Narendra Modi 's government plans to expand nuclear power production capacity by 12 times by 2047 and it is also relaxing requirements to allow foreign players to take a minority stake in power plants, Reuters reported in April. Finance Value and Valuation Masterclass - Batch 4 By CA Himanshu Jain View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program Finance Value and Valuation Masterclass - Batch 3 By CA Himanshu Jain View Program Artificial Intelligence AI For Business Professionals By Vaibhav Sisinity View Program Finance Value and Valuation Masterclass - Batch 2 By CA Himanshu Jain View Program Finance Value and Valuation Masterclass Batch-1 By CA Himanshu Jain View Program If it meets its expansion goal, nuclear will provide 5% of India's total power needs, according to government estimates. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like With temperatures hitting 95°F, this is the mini air conditioner everyone's buying in the U.S News of the Discovery Undo Until now, the state has maintained control over the mining, import and processing of uranium fuel because of concerns over the possible misuse of nuclear material, radiation safety and strategic security. It will retain its grip on reprocessing spent uranium fuel and managing plutonium waste, in line with global practice. Live Events But to help meet a surge in demand for nuclear fuel as it expands nuclear power production, the government plans to draw up a regulatory framework that would allow private Indian firms to mine, import and process uranium, the two government sources told Reuters. They asked not to be named because the plans are not yet public. The proposed policy, which the sources said was likely to be made public in the current fiscal year, will also permit private players to supply critical control system equipment for nuclear power plants, they said. The Finance Ministry, Department of Atomic Energy and Prime Minister's Office did not respond to Reuters' requests for comment. Outside India, countries including Canada, South Africa and the United States allow private firms to mine and process uranium. Domestic supply is not enough India has an estimated 76,000 tonnes of uranium enough to fuel 10,000 megawatts of nuclear power for 30 years, according to government data. But the sources said domestic resources would only be able to meet about 25% of the projected increase. The rest would have to be imported and India would need to increase its processing capacity. In announcing its budget on February 1, the government made public its plans to open up the sector without giving details. Some of India's big conglomerates subsequently began drawing up investment plans. But analysts said amending the legislation could be complex. "It's a major and bold initiative by the Indian Government which is critical for achieving the target," said Charudatta Palekar, independent power sector consultant. "The challenge will be to define quickly the rules of engagement with private sector." New Delhi will have to change five laws, including the ones regulating mining and electricity sectors and India's foreign direct investment policy to enable private participation in many identified activities, the sources said.
The Print
35 minutes ago
- The Print
PM Modi likely to visit New York for UNGA session in September
US President Donald Trump will address world leaders from the iconic UNGA podium on September 23, his first address to the UN session in his second term in the White House. The 80th session of the UNGA will open on September 9. The high-level General Debate will run from September 23-29, with Brazil as the traditional first speaker of the session, followed by the US. New York: Prime Minister Narendra Modi is likely to address the annual high-level session of the United Nations General Assembly (UNGA) in September, according to a provisional list of speakers issued by the UN here. According to the provisional list of speakers for the high-level debate of the 80th session of the General Assembly, India's 'Head of Government (HG)' will address the session on the morning of September 26. The Heads of Government of Israel, China, Pakistan, and Bangladesh are also scheduled to address the UNGA general debate on the same day. Modi had travelled to the US in February this year for a bilateral meeting with Trump in the White House in Washington, DC. In a joint statement issued after their meeting, Modi and Trump had announced plans to negotiate the first tranche of a mutually beneficial, multi-sector Bilateral Trade Agreement (BTA) by the fall of 2025. Even as trade negotiations were ongoing, Trump imposed tariffs totalling 50 per cent on India, including 25 per cent for New Delhi's purchases of Russian oil that will come into effect from August 27. Responding to the tariffs, India's Ministry of External Affairs has said that the targeting of the country is unjustified and unreasonable. 'Like any major economy, India will take all necessary measures to safeguard its national interests and economic security,' it said. Last week's announcement of Trump's executive order imposing the additional 25 per cent tariff came at a time when a team from the US is scheduled to visit India from August 25 for the sixth round of negotiations for the proposed bilateral trade agreement. The two countries are aiming to conclude the first phase of the pact by fall (October-November) this year. The UNGA list of speakers for the General Debate is provisional, and there is a possibility of changes in schedules and speakers over the next few weeks. The list will continue to be updated accordingly. Considered the 'busiest diplomatic season' of the year at the United Nations Headquarters, the high-level session opens in September annually. The session this year comes amid the continued Israel-Hamas war as well as the Ukraine conflict. Trump has said that in the six months of his second presidential term, he has solved several wars, including a peace agreement between Armenia and Azerbaijan, Cambodia and Thailand, Israel and Iran, Rwanda and the Democratic Republic of the Congo, Egypt and Ethiopia, and Serbia and Kosovo. Trump has repeatedly claimed credit for stopping the May conflict between India and Pakistan. This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
