India

Atmanirbhar Bharat: Rs 90,000 Crore Package To Assist Power Discoms

New Delhi: The Union government has allocated a Rs 90,000 crore financial package to assist power distribution companies (Discoms) across the country who have been under stress during the lockdown caused by Covid-19 pandemic.

The Ministry of Power has written to all states and Union Territories, informing them of the government’s decision under the Atmanirbhar Bharat (self-reliant) mission. The funding will be done in two tranches of Rs 45, 000 crore each.

“The package for power sector will significantly reduce the burden of Discoms for maintaining  distribution of electricity as supplied by gencos/transcos during these difficult times,”  said Minister of State (Independent Charge) for Power and New & Renewable Energy, RK Singh.

The government on May 13 decided to make an infusion of liquidity of Rs 90,000 crore through Power Finance Corporation (PFC) and Rural Electrification Corporation (REC). Consequently, REC and PFC will extend special long-term transition loans up to 10 years to Discoms.

Loans will be provided to the Discoms against guarantees by the respective state governments which will be used to clear liabilities of CPSE Gencos/Transco, IPP and RE generators.

OB Bureau

Recent Posts

Send Sheikh Hasina Back: Bangladesh’s Diplomatic Note To India

New Delhi: Bangladesh’s interim government on Monday sent a diplomatic note to India asking the…

25 minutes ago

IREDA Sanctions Over Rs 3000 Cr For Green Energy Projects In Odisha

Bhubaneswar: Indian Renewable Energy Development Agency Limited (IREDA) has sanctioned over Rs 3,000 crore for…

44 minutes ago

Sex With Dead Body Horrendous Act, But Not Rape: Chhattisgarh High Court

Raipur: In a significant observation, the Chhattisgarh High Court has said that engaging in sexual intercourse…

58 minutes ago

HC Asks Odisha Govt To Fill Up Vacant Junior Teacher Posts Immediately

Cuttack: The Orissa High Court on Monday reportedly directed the state government to immediately fill…

1 hour ago

40 Youths Stuck In Maldives On Job Promise Plead For Safe Return To Odisha

Bhubaneswar: Over 40 youths, lured to Maldives with promises of lucrative jobs in a private…

1 hour ago

No Attempts To Intimidate British Citizens Would Be Accepted: UK Junior Min After Sikh Groups Allege Harassment By Indian Govt

London: After a number of Sikhs living in the UK alleged that they were being…

1 hour ago

This website uses cookies.