The government will introduce a bill in the monsoon session of Parliament to create an autonomous nuclear regulatory authority .It is also working out a new compensation package for the people displaced by the proposed 9900 mega watt Jaitapur nuclear power project in Maharashtra. Addressing a press conference in New Delhi on Tuesday Minister of State in Prime Minister's office V Narayanswamy said that the authority will subsume the Atomic Energy Regulatory Board.Mr. Narayan Swamy who was flanked by Maharashtra Chief Minister Prithviraj Chavan and Environment minister Jairam Ramesh, said that a generous compensation package by Maharashtra government and Nuclear Power Corporation will be announced soon. He added this was decided in a meeting convened by Prime Minister Manmohan Singh on the current status of the Jaitapur project and the impact of Japan's Fukushima nuclear tragedy on the nuclear programme. Maharashtra Chief Minister Mr Prithviraj Chavan and Environment Minister Mr. Jairam Ramesh participated in this meeting on Tuesday morning. Mr. Chavan gave the details of the compensation.Referring to the safety aspects of the proposed Jaitapur nuclear plant, he said that each reactor will have its own stand alone safety and operation systems and there will be complete transparency in the functioning of the nuclear power programme. The Secretary Department of Atomic Energy S Banerjee while allaying fears of people about its safety, said that all aspects were taken into considerations before selecting the site for the plant and it involved long technical process.Environment Minister Jairam Ramesh said that the safety mechanism in Jaitapur plant design is a very major step forward in view of the Fukushima accident.Earlier, a press release issued by the government defended the decision to set up a nuclear plant at Jaitapur. It said, the site selection committee had assessed all aspects of the plant and recommended its suitability. The release said, the Jaitapur site is not considered earthquake prone and there is no fault line within 30 kms from the site. All safety guidelines based on International Atomic Energy Agency Regulations while strictly adhered to. The release says there will be no adverse effect on environment and health of the people. The plant will have a life of 60 years.