Sitharaman highlighted that in India, fiscal policy options are used for better environmental outcomes and concessional tax rates are in place to promote use of renewables, the finance ministry said in a series of tweets. Finance Minister Nirmala Sitharaman on Friday emphasised on the role of technology in fighting climate change and called for international […]
Rs 3.03 lakh Crore For Reform-Based Result-Linked Power Distribution Scheme
• Rs 1.1 lakh crore loan guarantee scheme for COVID affected sectors • Additional Rs 1.5 lakh crore for Emergency Credit Line Guarantee Scheme • Credit Guarantee Scheme to facilitate loans to 25 lakh persons through Micro Finance Institutions (MFIs) • Financial support to more than 11,000 Registered Tourists/ Guides/ Travel and Tourism Stakeholders • […]
FM Nirmala Sitharaman allocates Rs 3.03 lakh crore for reform-based, result-linked power distribution scheme
Union Finance Minister Nirmala Sitharaman, on June 28, announced allocation of Rs 3.03 lakh crore for a revamped reform-based result-linked power distribution scheme. Of this, the Centre’s share would be Rs 97,631 crore. The scheme is aimed at providing financial assistance to DISCOMS for infrastructure creation, up-gradation of system, capacity building and process improvement, the […]
Fourth Partner Energy on BUDGET 2021
“Finance Minister Nirmala Sitharaman has delivered a balanced budget for the Renewables sector. It reflects the government’s commitment to accelerate decarbonization. The solar industry welcomes the announcement of 20% BCD on inverters and 15% on lanterns; the FM has indicated ramping up domestic manufacturing of cells and panels in a phased manner – which is […]
Discom Privatisation Challenged: Insufficient Planning Or Tactical Move?
On May 16, 2020, the Minister of Finance, Nirmala Sitharaman, announced that electricity distribution companies or distribution licensees in the Union Territories would be privatised, stating that consumers should not be burdened with the cost of the discoms’ inefficiencies. This was announced as part of the Government of India’s economic stimulus package as a response […]
Loans worth Rs 1.18 lakh crore sanctioned under discom liquidity package
In May, Finance Minister Nirmala Sitharaman had announced Rs 90,000 crore liquidity infusion into cash-strapped discoms facing demand slump due to the COVID-19 crisis. New Delhi: Loans worth Rs 1.18 lakh crore have been sanctioned so far by state-run non-banking finance firms Power Finance Corporation and REC Ltd under the liquidity package for stressed power […]
Power minister proposes a new scheme worth Rs 3 lakh crore to finance commission
Officials of the power ministry discussed the need to restructure the power system to make states responsible for the financial health of their power distributions companies (discoms), with the NK Singh-led FC Power minister RK Singh proposed a new scheme for the power sector amounting to Rs 3 lakh crore spanning five years, in his […]
Power demand perks up as mercury soars, industrial activities rise
In the first fortnight of the month, the peak power demand met was recorded at 141.87 GW on May 15, registering a slump of over 22 per cent compared to the highest level in the same period of May 2019 NEW DELHI: Heat wave coupled with higher commercial and industrial activities under lockdown 4.0 has […]
Liquidity support provides temporary lifeline to discoms: S&P
The agency noted that many discoms in India have weak financial health owing to excess debt, loss-making operations, and high transmission and distribution (T&D) losses of more than 15 per cent Mumbai: The government’s stimulus measures will only provide a temporary lifeline to state-owned power distribution companies as the coronavirus pandemic has increased liquidity pressure […]
Discoms to get loans at cheaper rate to pay dues to Gencos: Minister
“PFC and REC provide loan to distribution and generation sector with a spread of 2.5 to 3 per cent. Under the present scheme, they have agreed to take lower 1.5 per cent spread that will lower the interest rate,” he said New Delhi: Financially stressed discoms will be offered loans at cheaper rates of 8.5 […]