NEWS

Government Earmarks Rs 1.43 Lakh Crore As Incentive For Power Reforms In FY24

government has allocated Rs crore as impulses countries can mileage through fresh borrowing for undertaking reforms in the power sector in financial 2024. Twelve countries have entered the central government’s authorization for fresh borrowings worth Rs 66,413 crore cumulatively over the last two times for making power sector reforms, according to a statement by the Finance Ministry.

Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Odisha, Rajasthan, Sikkim, Tamil Nadu, Uttar Pradesh and West Bengal have entered the fresh borrowing capacity for reforms accepted in 2021- 22 and 2022- 23.” States that were unfit to complete the reform process in 2021- 22 and 2022- 23 may also profit from the fresh borrowing allocated for 2023- 24

The needed reforms include Progressive supposition of responsibility for loss of public sector power distribution companies, or Discoms, by the state government. translucency in the reporting of fiscal affairs of power sector, including payment of subventions and recording of arrears of governments to Discoms and of Discoms to others. Timely rendition of fiscal and energy accounts

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