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Over Rs 70K crore worth of loans sanctioned to discoms below liquidity equipment: Govt


India

Over Rs 70K crore worth of loans sanctioned to discoms below liquidity equipment: Govt

NEW DELHI: As famous as Rs 70,590 crore worth of credit rating has been sanctioned to discoms below the liquidity equipment for cost of dues by these utilities, Parliament turned into once informed on Sunday. Finance Minister Nirmala Sitharaman in Could presumably maybe maybe this year had announced a Rs 90,000 crore liquidity infusion into…

NEW DELHI: As famous as
Rs 70,590
crore worth of credit rating has been sanctioned to discoms below the liquidity equipment for cost of dues by these utilities, Parliament turned into once informed on Sunday.

Finance Minister Nirmala Sitharaman in Could presumably maybe maybe this year had announced a
Rs 90,000
crore liquidity infusion into money-strapped discoms for clearing their prominent dues till March 2020.

Now, the government is in the process of enhancing this equipment to
Rs 1.2 lakh
crore factoring in discoms prominent dues till June this year. Some states had urged the central government to hike this liquidity equipment by factoring in prominent dues of April and Could presumably maybe maybe as neatly.

“As against
Rs 90,000
crore of liquidity infusion equipment announced by the government,
Rs 70,590
crore worth of loans were sanctioned and
Rs 24,742
crore has already been disbursed/released till September 16, 2020,” acknowledged Energy Minister R K Singh in a written acknowledge in the Rajya Sabha.

The government is infusing liquidity in the vitality sector by means of Energy Finance Corporation (PFC) and REC Ltd to enable the sphere to protect vitality offers as money flows had plummeted for the length of lockdown imposed to contain the spread of COVID-19.

Below this intervention, the REC and PFC are extending special prolonged term transition loans of up to 10 years to discoms for liquidating their prominent dues of Central Public Sector Mission (CPSU) Generation (Genco) & Transmission Firms (Transcos), Unbiased Energy Producers (IPPs) and Renewable Energy (RE) generators.

In separate acknowledge to the Home, the minister acknowledged that vitality seek details from would amplify from 1,399.91 billion units (BU) in 2019-20 to 2,047.43 BU in 2026-27.

He also informed the Home that the peak vitality seek details from would amplify to 298.77GW in 2026-27 from 200.69GW in 2019-20.

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