India’s economy is experiencing an annual growth rate of 8%, but efforts need to focus on building basic facilities and resources while enhancing overall economic development. Commercial energy, such as electricity and natural gas, is expected to increase by 7.5% in the next thirty years. However, the current growth rate is only 3.29%, which is disappointing. Energy security is crucial for countries’ safety and plans, as it has been a priority since the First World War.
India has 22 atomic reactors in operation at eight destinations, with an introduced capacity of 6780 MW and 30,292.91 GWh of power. Eleven more reactors are under development to create an additional 8100 MW. India passed the Nuclear Energy Act in 1962, the Radiation Assurance Rules of 2004, and the Respectful Risk for Atomic Harm Act in 2010 to address the issue.
The Civil Liability for Nuclear Damage Act of 2010 is a law that deals with accidents or incidents caused by nuclear power plants. It specifies who is responsible for the damage, how much compensation should be paid, and the process to claim compensation. The law requires administrators of nuclear plants or foundations to take responsibility for any harm they cause, regardless of who is at fault.
In conclusion, India’s economy is thriving, but there is a need for better access to resources and energy security. By focusing on renewable sources of energy and minimizing energy use, India can protect the environment and save money while ensuring its energy security.
The United Nations, the International Monetary Fund, and the World Trade Organization are three key international frameworks that influence global interactions. These include the Paris Convention of 1960, the Vienna Convention of 1997, and the Convention on Supplementary Compensation for Nuclear Damage. These conventions aim to ensure everyone follows the rules of atoms and provide additional financial assistance for damage caused by nuclear accidents.
India has the option to join the Convention on Supplementary Compensation for Nuclear Damage but has chosen only a few. India and France have signed agreements to reduce carbon emissions and use nuclear power peacefully. The Gracious Obligation for Nuclear Damage Act of 2010 was enacted to provide quick payment in case of nuclear disasters.
Nuclear energy has seen significant growth in recent decades, leading to concerns about global warming. All comprehensive risk organizations for nuclear accidents share two common features: channeling risk to the chairman, limiting risk, and trading extreme liability to compensate casualties to the government. However, excluding suppliers from all liability in case of a nuclear disaster can lead to high risks and less motivation for providers to build more secure nuclear plants.
In the Indian nuclear commitment organization, the director has the right to initiate action against the supplier if the nuclear event is due to equipment or material defects, dormant assets, or substandard services provided by the supplier. This approach is critical as it makes suppliers aware of nuclear commerce and minimizes the risks of reducing suppliers.
In conclusion, global laws and regulations play a crucial role in ensuring the safety and well-being of individuals and nations involved in nuclear energy. By adhering to these agreements and implementing effective measures, countries can work towards a more sustainable and environmentally friendly future.
Author: Nakshatra Sandeep Dapse,
a Student at DES Shri Navalmal Firodiya Law College, Pune
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