Releasing the ninth annual rating for discoms, Power Minister RK Singh said that the gap between generation and revenue of electricity has been reduced from 42 paise to 38 paise.
Loss reduced by Rs 38000 crore.
It seems that the good days of the power discom sector have started. In the financial year 2019-20, the power distribution company, which is called discom, recorded a huge decline of 38 percent in its losses. In that financial year, the total loss of discoms came down by 38 percent to Rs 38,000 crore. In the previous financial year i.e. 2018-19, the total loss of discoms was 61360 crores.
In a report published in the Times of India, Power Minister RK Singh said that the central government has taken several important measures to improve the condition of discoms. Due to this its revenue has improved and losses have come down. Releasing the ninth annual rating for discoms, Singh said the gap between generation and revenue of electricity has been reduced from 42 paise to 38 paise. Power sector lender PFC has given A+ rating to four discoms of Gujarat and Dakshin Haryana Bijli Vitran Nigam in Haryana.
Different ratings of discoms of different states
Eight discoms from Andhra Pradesh, Rajasthan, Meghalaya, Jharkhand, Manipur, Tripura and Tamil Nadu were given the lowest C rating. Regarding this rating, RK Singh said that unless a company is properly assessed, improvement is not possible there. With the help of proper rating and assessment, it will be easier for the state government, financial institutions and other stakeholders to do the analysis.
3 lakh crore for power distribution scheme
Last month, the Modi government has approved Rs 3.03 lakh crore for the power distribution scheme. From this fund, discoms will be given money for infrastructure construction and improvement. In this fund of 3 lakh crores, the central government will give Rs 97631 crore. State governments have already approved additional borrowing for four years for power reforms.
Multiple schemes merged
At that time the Finance Minister had said that the currently ongoing IPDS, DDUGJY and SAUBHAGYA schemes will be merged. For this improvement, state governments can do additional borrowing for the next four years. This amount will be 0.50 percent of Gross State Domestic Product ie GSDP. For the financial year 2021-22, this amount will be Rs 1.05 lakh crore. Now getting the approval of the cabinet means that now it can be implemented. If this scheme is implemented properly, then companies will get benefit as well as common people will also get benefit from it and every house will get 24 hours electricity.
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