Futuristic Budget, revolutionary decision to involve private sector in Nuclear Projects: Dr Jitendra

Feb 01, 2025

NEW DELHI: Union Minister Dr. Jitendra Singh described Budget 2025 as a futuristic budget with a revolutionary and far reaching announcement to involve the private sector in Nuclear Projects or to facilitate private participation in Nuclear Power projects. This announcement is going to startle the world, he said, and reflects the same courage of conviction which PM Modi had demonstrated when he opened the Space sector to the private sector and the outcomes were miraculous within a few years.

Speaking to a series of media channels here today, Dr Jitendra Singh said, the Union Budget 2025-25 reflects sensitivity of the Government at the Centre and also the futuristic vision of Prime Minister Narendra Modi . While its sensitivity is reflected in the middle class relief to taxpayer and other measures like Duty exemption on certain life saving drugs, its long term futuristic vision is reflected in provisions like Nuclear Mission, Small Modular Reactors, Green Tech Mission , Centre of Excellence for AI , etc, he said.

It is going to be a definitive stride towards realizing Viksit Bharat @2047 and also going to raise India's esteem in the global arena, the Minister said..

Dr. Jitendra Singh appreciated the Budget with its sensitivity to ease of living because of its a middle class-focused with a lot of tax-relieved and ease of business as well. Terming the Budget citizen-centric, the Union Minister said, it is comprehensively encompassing the synergy of technology and tradition.

The Minister referred to the Union Budget as very revolutionary with the bringing about an amendment in Atomic Energy Act in order to involve the private sector players something the Hon'ble Prime Minister had done a few years ago in the space sector. Dr. Singh further said, the Nuclear Energy Mission envisaged by the Prime Minister and announced by the Finance Minister is not only going to add value to India's vibrant economy, not only carry onward a storehouse of green energy but also going to give us a lead ahead of several other countries in this arena. He, however, said, some of these aspects won't give immediate dividends but will gradually percolate down our minds and in fact going to affect the entire world which are never per se expected from India.

Appreciating the Union Budget for stimulating a paradigm shift in the global perspective of the country in the arena of nuclear energy, Dr. Singh said, we are also laying the target of generating 100 Gigawatt nuclear energy by 2047 which sends a huge message across the world that India is no longer a follower and we are giving lead and paving the way for others to follow. He also said, even the farming sector is giving the edge of technology with Rs. 20,000 Crore allocation for Small Modular Reactors(SMRs) and commitment to realize a minimum of five(5) SMRs by 2033 and the initiative itself is again a futuristic area with scientific and technological support to the farmers.

The Union Minister said, additional Increase in startup support (Fund of Funds for startup FFS) by Rs. 10,000 Crore, provisions to install 50,000 more Atal Tinkering Labs in Government schools in the next five(5) years, to boost Maritime Development Fund with a corpus of Rs. 25,000 Crore and allocation of Rs. 20,000 Crore to boost Research and Development as well as innovation will provide impetus to technology-led development for realization of Viksit Bharat@2047.

Dr. Jitendra Singh further said, PM Research Fellowship scheme which will provide an ecosystem of 10,000 fellowships over the next five years at top notch institutions like IITs and IISc. He said, the ⁠setting up of National Geospatial Mission will lead to develop foundational geospatial infrastructure and data. He also said, the government will use PM Gati Shakti to facilitate modernisation of land records, urban planning and design of infrastructure projects. He said, the ⁠Second Gene bank with 10 lakhs germ plasma lines will be set up for future Food and Nutritional Security and conservation support from genetic resources in both public and private sectors.