Nuclear Sector Boosted: Zero Customs Duty Under SHANTI Act
Government empowers nuclear sector by waiving customs duty under SHANTI Act.
Photo by Sergio Pérez Mateo
Key Facts
Zero customs duty: For nuclear sector imports
Based on: SHANTI Act
UPSC Exam Angles
GS Paper III: Economy - Government policies and interventions for development in various sectors.
GS Paper III: Science and Technology - Developments and their applications and effects in everyday life.
Connects to India's energy security and climate change commitments.
Potential question types: Statement-based MCQs, analytical questions on energy policy.
Visual Insights
Impact of Zero Customs Duty on Nuclear Sector
Key statistics related to the government's initiative to boost the nuclear sector by waiving customs duties under the SHANTI Act.
- Customs Duty
- 0%
Elimination of customs duty on imports for nuclear power plants will reduce costs and encourage investment.
More Information
Background
Latest Developments
Frequently Asked Questions
1. What is the SHANTI Act and why is it important in the context of the recent customs duty waiver for the nuclear sector?
The SHANTI Act provides the framework for promoting peaceful uses of nuclear energy. The customs duty waiver aligns with the Act's objective by reducing the cost of importing essential components and technologies, encouraging investment and development in the nuclear sector.
2. What are the key facts about the customs duty waiver for the nuclear sector that are important for the UPSC Prelims exam?
The key fact is that the government has waived customs duties on imports for the nuclear sector. This is based on the SHANTI Act, which promotes the peaceful use of nuclear energy. Remember that this aims to boost domestic nuclear energy production.
Exam Tip
Focus on the purpose of the waiver (boosting domestic production) and the Act it's based on (SHANTI Act).
3. How might the elimination of customs duties impact the cost of nuclear energy projects in India?
By eliminating customs duties, the government seeks to reduce the cost of importing essential components and technologies for nuclear power plants. This is expected to encourage greater investment in the nuclear sector and accelerate the development of nuclear energy projects.
4. What are the potential benefits and drawbacks of waiving customs duties for the nuclear sector?
Pros: Reduced costs for nuclear projects, increased investment in the sector, faster development of nuclear energy projects. Cons: Potential dependence on foreign technology, concerns about the impact on domestic industries if they cannot compete.
5. Why is the nuclear sector being boosted now? What are the recent developments leading to this?
India has been actively expanding its nuclear power capacity to meet its growing energy demands and reduce its reliance on fossil fuels. The government has been promoting the development of indigenous nuclear technology and has also been collaborating with other countries to build new nuclear power plants.
6. How does this customs duty waiver align with India's broader energy policy goals?
The waiver supports India's goals of increasing energy production, diversifying its energy mix, and reducing reliance on fossil fuels. Nuclear energy is a key component of achieving these goals.
7. What could be a potential interview question regarding the SHANTI Act and the nuclear sector boost?
A potential interview question could be: 'What are your views on India's nuclear energy program, considering the SHANTI Act and recent government initiatives to boost the sector? What are the ethical considerations?'
8. What is the historical background of using nuclear energy for peaceful purposes, as it relates to the current developments?
The development of nuclear technology began in the mid-20th century, initially focused on military applications during World War II. After the war, efforts shifted towards harnessing nuclear energy for electricity generation and other civilian uses. This led to the establishment of international frameworks.
9. What government initiatives, besides the customs duty waiver, are in place to promote the nuclear sector?
Based on available information, the government has been promoting the development of indigenous nuclear technology and collaborating with other countries to build new nuclear power plants, such as the Kudankulam Nuclear Power Plant.
10. How can I best prepare for questions about the SHANTI Act in the UPSC Mains exam?
Understand the purpose and provisions of the SHANTI Act, and how it relates to India's energy security and international obligations. Be prepared to discuss its impact on the nuclear sector and India's energy goals.
Practice Questions (MCQs)
1. Consider the following statements regarding the SHANTI Act: 1. It primarily focuses on promoting the peaceful uses of nuclear energy. 2. It mandates zero customs duty on imports related to the nuclear sector. 3. It aims to discourage foreign investment in the domestic nuclear energy sector. Which of the statements given above is/are correct?
- A.1 and 2 only
- B.2 and 3 only
- C.1 and 3 only
- D.1, 2 and 3
Show Answer
Answer: A
Statement 1 is CORRECT: The SHANTI Act provides the framework for promoting peaceful uses of nuclear energy. Statement 2 is CORRECT: The government is waiving customs duties on imports related to the nuclear sector under the SHANTI Act. Statement 3 is INCORRECT: The SHANTI Act aims to encourage greater investment in the nuclear sector, not discourage it. The zero customs duty is intended to reduce costs and attract investment.
2. Which of the following is the primary objective of waiving customs duties on imports for the nuclear sector under the SHANTI Act?
- A.To increase the cost of nuclear energy production
- B.To reduce the cost of importing essential components and technologies
- C.To promote the export of nuclear technology
- D.To discourage investment in the nuclear sector
Show Answer
Answer: B
The primary objective of waiving customs duties is to reduce the cost of importing essential components and technologies for nuclear power plants. This is expected to encourage greater investment in the nuclear sector and accelerate the development of nuclear energy projects. Options A, C, and D are incorrect as they contradict the stated objective.
3. The Atomic Energy Act of 1962 primarily deals with:
- A.Regulation of coal mining activities in India
- B.Providing a regulatory framework for all activities related to atomic energy
- C.Promoting renewable energy sources like solar and wind power
- D.Establishing guidelines for environmental protection
Show Answer
Answer: B
The Atomic Energy Act of 1962 provides the regulatory framework for all activities related to atomic energy, including research, development, and the operation of nuclear facilities. It also establishes the Atomic Energy Regulatory Board (AERB) to ensure the safety and security of nuclear installations. The other options are incorrect as they relate to different areas of regulation.
