Liability risks transferred to taxpayers: price of Modi’s diplomacy

Liability risks transferred to taxpayers: price of Modi’s diplomacy

If a serious accident were to occur, India would be saddled with staggering, lasting costs. Japan’s Fukushima-disaster bill has been conservatively estimated at $105 billion, or 429 times higher than the Indian insurance pool’s capital. Japan is now establishing a new State-backed compensation institution to be funded by utilities and government bonds totalling $42.5 billion. This surpasses the $13.6 billion cover provided by America’s Price-Anderson Act, with another $10 billion pledged by the department of energy.

 

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