In perspective of the rising obligation of force conveyance organizations, the Cabinet is liable to take up on Thursday the issue of handling Rs 4.3 lakh crore credits of these force appropriation organizations to cut down their liabilities.
Hit by sponsored taxes, state power discoms are confronting money crunch and are causing yearly misfortunes of about Rs 60,000-70,000 crore.
Rs 4.3 lakh crore loans distribution companies to bring down their liabilities
This is likewise influencing open segment banks as their awful advances are rising. The Power Ministry is taking a shot at a proposition to manage over Rs 4 lakh crore credits of force dissemination organizations with a perspective to cut down their liabilities.
“Bureau meeting that was booked today was conceded to join this issue of mounting liabilities of discoms. The meeting is currently booked for tomorrow,” a source said.
The obligation weight has been a reason for state power utilities not going in for new tasks to raise power era limit. It has likewise constrained them not to purchase extra power, in this manner making crest hour shortfalls, the source included.
Gatherings at the level of the Prime Minister’s Office have been held to clear barricades to slowed down ventures and the high obligation of state utilities has been distinguished as the prime explanation behind the present condition of the division.
The administration needs to draw a dependable budgetary rebuilding arrangement, as an obligation recast, that would give motivating forces to discoms to produce more income.
Another senior authority said under the obligation recast arrangement, the discoms will get some help by method for lessening loan fee.
That may be decreased from 11-12 for every penny to 7-8 for each penny.
Other than the reimbursement residency could be extended, he included.
Sources said after the obligation recast, the interest risk of force circulation organizations in the nine states will descend other than expansion of their advance residency will likewise reinforce their money related position.
The credits to the discoms in 9 states including Uttar Pradesh, Tamil Nadu, Telangana, Rajasthan, Madhya Pradesh and Jharkhand indicate Rs 4.3 lakh crore.