Modi urges states to expedite clearing power dues
POWER & RENEWABLE ENERGY

Modi urges states to expedite clearing power dues

Prime Minister Narendra Modi urged states to pay off power sector dues worth an estimated Rs 2.5 lakh crore, ruing the politics that has landed the sector in trouble in many states. “It is not the time for politics, it is time for a national policy,” Modi said in his message to states against the politicisation of the power distribution sector.

“In politics, people should have the courage, to tell the truth, but we see that some states try to avoid it. This thought process has pushed the power sector in many states into huge problems.”

The Prime Minister, who was launching a revamped power sector distribution scheme, said states owe about Rs 1 lakh crore to generation companies while state departments and local bodies have dues of Rs 60,000 crore to distribution companies. Subsidy payment arrears exceed Rs 76,000 crore, taking the total sector dues to about Rs 2.5 lakh crore.

“Companies responsible for activities ranging from the generation of electricity to its delivery have about Rs 2.5 lakh crore of money which is stuck,” Modi said, calling on states with dues to clear them as soon as possible. Modi said distribution sector losses in India are in double digits compared with single digits in developed countries.

Also read:
New sub-stations are to be established by MSEDCL


Prime Minister Narendra Modi urged states to pay off power sector dues worth an estimated Rs 2.5 lakh crore, ruing the politics that has landed the sector in trouble in many states. “It is not the time for politics, it is time for a national policy,” Modi said in his message to states against the politicisation of the power distribution sector. “In politics, people should have the courage, to tell the truth, but we see that some states try to avoid it. This thought process has pushed the power sector in many states into huge problems.” The Prime Minister, who was launching a revamped power sector distribution scheme, said states owe about Rs 1 lakh crore to generation companies while state departments and local bodies have dues of Rs 60,000 crore to distribution companies. Subsidy payment arrears exceed Rs 76,000 crore, taking the total sector dues to about Rs 2.5 lakh crore. “Companies responsible for activities ranging from the generation of electricity to its delivery have about Rs 2.5 lakh crore of money which is stuck,” Modi said, calling on states with dues to clear them as soon as possible. Modi said distribution sector losses in India are in double digits compared with single digits in developed countries. Also read: New sub-stations are to be established by MSEDCL

Next Story
Infrastructure Energy

KEC Secures Rs 10, 380 Mn Substation Order in Saudi Arabia

KEC International Ltd., a global infrastructure EPC major, and an RPG Group company, has secured a new order worth Rs 10,380 million for the Design, Supply and Installation of a 380 kV GIS Substation in Saudi Arabia.Vimal Kejriwal, MD & CEO, KEC International Ltd., commented, “We are delighted with the successive order wins in our T&D business. In a landmark achievement, we have secured our largest ever substation order. This prestigious order in the Middle East has widened our portfolio and strengthened our presence in the region. With this strategic win, our year-to-date or..

Next Story
Infrastructure Urban

Central Bank of India executes first fully digital SCF deal on PSB Xchange

In a major advancement for India’s banking sector, Central Bank of India (CBI) has successfully completed the country’s first fully digital supply chain finance (SCF) transaction on PSB Xchange—a unified multi-lender platform launched by PSB Alliance. PSB Xchange is designed to connect public and private sector banks, NBFCs, and fintechs with corporates and their channel partners to facilitate supply chain finance and small business loans. The transaction marks the first time a fintech-originated corporate lead has been seamlessly processed through the PSB Xchange ecosystem. The lead fl..

Next Story
Infrastructure Energy

Atlanta Electricals secures Rs 1,835 Mn transformer order from BNC Power

Atlanta Electricals Limited (“Atlanta”) has secured an order worth Rs 1,835 million from BNC Power Projects Ltd for the supply of extra high voltage (EHV) transformers and a bus reactor for its Pugal site. The contract includes a mix of 315 MVA, 400 KV and 100 MVA, 132 KV transformers along with a 400 KV bus reactor. The project scope encompasses design, manufacturing, testing, and supply to the project site. Deliveries will be sequenced following engineering and drawing approvals, offering multi-quarter execution visibility and ensuring a steady production run-rate. The order will be ex..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?