Insurance Sector Reform
• Cabinet approved a Bill to raise Foreign Direct Investment limit from 74% to 100% in insurance companies.
• Objective: higher capital inflow, better penetration, competition and technology transfer.
• Condition: At least one among Chairman, Managing Director or Chief Executive Officer must be an Indian citizen.
Nuclear Power Sector Reform
• Approval of the SHANTI Bill (Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India).
• Enables private sector participation in nuclear power generation.
• Supports India’s goal of adding 100 gigawatt nuclear capacity by 2047.
Small Modular Reactor (SMR) Mission
• Cabinet approved a Nuclear Energy Mission for Small Modular Reactors.
• Outlay: ₹20,000 crore.
• Target: At least five indigenously developed SMRs operational by 2033.
What is a Small Modular Reactor (SMR)?
• A compact nuclear reactor with a capacity of up to 300 megawatt electric per unit.
• Factory-fabricated and transported to sites, unlike large conventional reactors.
Advantages
• Lower capital cost.
• Shorter construction time.
• Enhanced safety features.
• Suitable for remote areas and grid flexibility.
• Considered key for clean energy transition.
