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Govt allows five states to borrow more for power sector reforms
Finance minister Nirmala Sitharaman
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New Delhi: The finance ministry on Friday permitted reforms-linked additional borrowing for five states, including Karnataka, Rajasthan, Uttarakhand, Goa, and Bihar, after they met the power sector reforms target of the Centre.
The reforms include cutting aggregate technical and commercial losses and bridging the average cost of supply and average revenue realization gap, stipulated by the department of expenditure of the ministry of finance.
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Synopsis
The Centre had, in May last year, allowed states to raise 2% of their state GDP to tide over the challenges posed by Covid-19 pandemic, but tied half of these funds to states implementing critical citizen-focussed reforms, pegging the size at Rs 91,667 crore.
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Karnataka has sought to bring its average rate of realization closer to the average cost of supply with a combination of collection efficiency and increase in power tariffs.
BENGALURU: Karnataka is among the five states that have been allowed by the Centre to borrow additional funds from the market for meeting reforms-linked targets in the power sector. The Centre had, in May last year, allowed states to raise 2% of their state GDP to tide over the challenges posed by Covid-19 pandemic, but tied half of these funds to states implementing critical citizen-focussed reforms, pegging the size at Rs 91,667 cror
15 States complete ease of doing business reforms ANI | Updated: Feb 17, 2021 13:53 IST
New Delhi [India], February 17 (ANI): Gujarat, Uttar Pradesh, and Uttarakhand are among the states that have completed the reform process of Ease of Doing Business and the number of states successfully completing the reforms has increased to 15.
On receipt of the recommendation from the Department for Promotion of Industry and Internal Trade (DPIIT), the Department of Expenditure has granted permission to these three states to raise additional financial resources of Rs 9,905 crore through Open Market Borrowings.
Earlier, Andhra Pradesh, Assam, Haryana, Himachal Pradesh, Karnataka, Kerala, Madhya Pradesh, Odisha, Punjab, Rajasthan, Tamil Nadu, and Telangana had also reported completion of this reform, which was confirmed by DPIIT.
Updated Feb 09, 2021 | 17:14 IST
One Nation One Ration Card System is an important citizen-centric reform. Its implementation ensures availability of ration to beneficiaries under National Food Security Act (NFSA) and other welfare schemes Rajasthan becomes 12th state to complete One Nation One Ration Card system reform
New Delhi: Rajasthan has become the 12th state in the country to successfully undertake the “One Nation One Ration Card system” reform stipulated by the Department of Expenditure, Ministry of Finance. Thus, the State has become eligible to mobilise additional financial resources of Rs 2,731 crore through Open Market Borrowings. Permission for the same was issued by the Department of Expenditure.