Friday, March 16, 2012

India Raises Nuclear Power Spending 18% to 66.1 Billion Rupees

India’s government proposes to increase spending on nuclear power projects by 18 percent to 66.1 billion rupees ($1.3 billion) in the year starting April 1.

The provision includes equity investment in Bharatiya Nabhikiya Vidyut Nigam Ltd., a unit of the state-owned monopoly Nuclear Power Corp., according to budget documents posted online by the Ministry of Finance.

The government allocated 140 million rupees for the Kudankulam nuclear plant in the southern state of Tamil Nadu, being built with Russia’s help, according to the document. Protests by villagers have stalled work at the project.

India earmarked 55.8 billion rupees for nuclear projects in the year ending March 31, the government said.

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