Indian cabinet to consider tougher nuke liability bill

A parliamentary panel yesterday recommended changes to a bill aimed at opening up India's $150 billion nuclear power market, including trebling accident compensation and extending liability to private firms.
If passed by parliament, the bill will help open up the nuclear power market to firms such as US-based General Electric and Westinghouse Electric, a subsidiary of Japan's Toshiba Corp 6502, who are reluctant to step in without clarity on accident compensation.
The revisions, presented to parliament on Wednesday and largely backed by opposition parties, mark another instance of policy climbdown by a government struggling to push through bold financial reforms in the face of political pressure.