Finance Minister announced Rs 90,000 crore liquidity boost for Discoms
- The FM announced the Power Finance Corporation and Rural Electrification Corporation will infuse liquidity worth Rs 90,000 crore into discoms.
- The loans will be given against state guarantee for exclusive purpose of clearing of discoms’ liabilities to the power generators.
- The total payables by various discoms to power general and transmission companies stand at Rs 94,000 crore.
- Central Public Sector Generation companies will give rebate to discoms which will be passed on to the customers.
- “These are one time solutions and have to be backed by sustainable reforms at the discoms to unshackle the sector. The linking of disbursement is linked to a few reforms like payment of government dues to discoms, plan to reduce financial and operational losses.
- “The government has also decided to waive off the fixed charges and interstate transmission charges by Power Grid against the power not drawn from NTPC, DVC and other CPSE from the period from 24th March 2020 to 17th May 2020”
- The Ministry of Micro, Small and Medium Enterprises, a branch of the Government of India, is the apex executive body for the formulation and administration of rules, regulations and laws relating to micro, small and medium enterprises in India.
- Minister of MSMEs – Nitin Gadkari
- Minister of State – Pratap Chandra Sarangi
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