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Tuesday, March 9, 2010

Indian nuclear liability bill

The nuclear liability bill, which seeks to cap the liability of foreign companies to a meager Rs.500 Crore in case of nuclear accidents, is in trouble in the Indian Parliament. The actual liabilities may be over 100 times more than the amount specified in the bill. It means if things works out safely, the companies will sell power and make money, and if some thing goes wrong, the Indian tax payers will have to bear the huge cost of cleaning up and take care of the exposed population for long period of time.

However, It important that the bill is passed with some changes to start nuclear energy business in India by foreign companies.