Govt plans nuclear liability fund for major accident

India plans to set up a nuclear liability fund to cover accident compensation in excess of 1,500 crore ($169 million) ‘owed by plant operators, ina bid to ease risk-sharing concerns among global suppliers and private firms, two government sources said.

- Reuters

The fund would supplement an operator's capped liability, in a shift from the current ad hoc payout system.

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The move holds out potential to unlock long-stalled private and foreign investment in the nuclear industry, by aligning India’s compensation framework with global norms, added the sources, who have direct knowledge of the matter.

The statutory fund, proposed by a new atomic energy bill, would supplement an operator's capped liability, in a shift from the current ad hoc payout system, said the sources, who sought anonymity because the plan has yet to be made public.