Moneycontrol » News » Features

The civil nuclear liability bill: Why it doesn't work?

Published on Mon, Jul 26, 2010 at 09:05 |  Source : Forbes India

Updated at Mon, Jul 26, 2010 at 10:30  

Like this story, share it with millions of investors on M3
0
0
Share on Tumblr
The civil nuclear liability bill: Why it doesn't work?


Taxpayers fund the bill

While in most advanced countries the private sector is actively involved in nuclear power generation, in India it is controlled entirely by the government. The state-owned Nuclear Power Corporation is the sole producer of nuclear power in India. Since the Bill seemingly does not provide for any liability on equipment suppliers, like France's Areva or America's Westinghouse, the entire compensation will have to be borne by the Indian government. In short, the taxpayer will end up footing the entire bill of any nuclear accident.

Can't calculate damages

It is impossible to put a value to human life. It is equally impossible to correctly measure the loss from damage to environment and livelihoods. Since the power of determining the damage will rest with the government, it may be tempted to value it lower to keep its liability low.

Future generations

Radiation affects subsequent generations of victims. The Bill in its current form limits claims to 10 years. Such a short limit to liability claims is unjust. In Germany, claims can go beyond 10 years but those filed before that period will have priority. For loss of life and injury, claims have to be filed within 30 years in South Korea, the Netherlands and Romania.

 

  

Trending News

Business News

Galaxy S III launched in India at Rs.43,180
Subbarao's job just got harder - thanks to Q4 GDP crash "Subbarao's job just got harder - thanks to Q4 GDP crash"

Bharat Bandh hits normal life in several states

Saumitra Chaudhuri On CNBC-TV18 Fixed Capital Formation Is A Positive

The latest earning numbers FIRST on CNBC-TV18
Interviews

May 31 2012, 17:09 | Source: CNBC-TV18

Eyeing 5-6% growth in tractor segment during FY13: M&M  

May 31 2012, 14:55 | Source: CNBC-TV18

Expect reasonable growth in profits ahead: Praj Industries  

Subscribe to

Moneycontrol Newsletters

Moneycontrol.com offers you a choice of various sectoral and other newsletters for FREE!