Power News We love to talk!

AUG 11 2017

All households to be electrified before August 15, 2022: Piyush Goyal

  • Economic Times, ET Bureau / Hyderabad
  • Created: Fri 11th AUG 2017

 

All households in the country will be electrified before August 15, 2022 and all villages before May next year, the Lok Sabha was informed today.

Power minister Piyush Goyal said the government has set a deadline of August 15, 2022 for electrification of all households in the country and May 2018 for the electrification of all villages. Goyal said he was happy to announce that the government will complete the task much before the deadlines set.

The minister said during Question Hour that the accumulated loss of DISCOMs has increased from Rs 2,53,700 crore in 2012-13 to Rs 3,60,736 crore in 2014-15.

As per the 'Report on Performance of State Power Utilities' published by Power Finance Corporation Limited (PFC), the accumulated losses and outstanding debt of DISCOMs have increased from Rs 2,53,700 crore and Rs 3,04,228 crore respectively from 2012-13 to Rs 3,60,736 crore and Rs 4,06,825 crore respectively in 2014-15.

"I am hopeful that we will improve the situation with the help of the state governments," he said.

However, since launch of Ujwal DISCOM Assurance Yojana (UDAY) in November 2015, the participating states have provisionally reported reduction in annual losses by approximately Rs 11,000 crore from 2015-16 to 2016-17, he said.

The generation capacity from all conventional sources has increased by 99209.5 MW in the period 2012-13 to 2016-17. However, there is no established correlation between DISCOMs' losses or debt with their generation capacity.

Replying to another question, Goyal said the previous attempts at addressing the DISCOMs' adverse financial position were limited, as they could not achieve financial and operational turnaround.

"Accumulated loss and debt kept on increasing due to several reasons which includes limitations of the scheme, limited participation of states and unsustainable operations of DISCOMs," he said.

Tags

Power Finance Corporation Finance State Power Utilities Power

Related News

  • Money starts flowing in for UP power board revamp  Read more
  • AAP hasnt allocated land for power stations: Goyal  Read more
  • Karnataka cautious over Cauvery power projects owing to water dispute with Tamilnadu  Read more
  • CERC allows time-extension to NLCs TPS-II Expansion  Read more
  • Policy soon on feeding off-grid power to national network  Read more
  • Meghalaya to stand guarantor for cash-strapped power company  Read more
  • Acme signs power purchase deal with Chhattisgarh discom  Read more
  • GSPCs KG gas field viable under new pricing formula: DharmendraPradhan  Read more
  • Essar Oil posts its highest quarterly profit ever  Read more
  • As imports get costly, CIL woos power sector afresh  Read more