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English Release 28-November 2014
Date Month Year
  • President's Secretariat
  • President of India condoles the passing away of Prof. Tapan Raychaudhuri
  • Speech by the President of India, Shri Pranab Mukherjee on the occasion of inauguration of the Institute of Neurosciences
  • Medical Institutions should inculcate a humanistic approach in the minds of young doctors and health professionals, says President
  • Speech by the President of India, Shri Pranab Mukherjee at the Annual Convocation of the University of Calcutta
  • President conferred D LITT/Law Degree (Honoris Causa) and Asutosh Mookerjee Memorial Medal by University of Calcutta
  • Min of Agriculture
  • Rabi Area Coverage as on 28.11.2014
  • Conservation of Indigenous Livestock
  • Development of Fisheries
  • Development of Dairy Sector
  • Proposal For New Insurance Scheme For Agriculturists
  • International Agreements for Cooperation in Agriculture and Allied Sectors
  • Shortfall in Production of Potato
  • Stagnation in Agricultural Production
  • Decline in Sowing of Oilseed
  • Revival of Agriculture Sector
  • Min of Chemicals and Fertilizers
  • False Reports on Increase in Prices of Drugs
  • Min of Commerce & Industry
  • Statement by Nirmala Sitharaman Regarding “India’s Stand In The WTO”
  • Proposals for Foreign Direct Investment
  • MoUs with Japan
  • India-Russia Forum on Trade
  • Task Force for Export Facilitation
  • Trade Along LoC
  • Special Economic Zones
  • Assistance to Coffee Industry
  • Import of Rice by STC
  • Curbs on Onion Trade
  • Tea Production
  • Facilitating Ease of Doing Business - Recent Initiatives Under Ministry of Commerce
  • Min of Comm. & Information Technology
  • Cyber Security Violations
  • Min of Consumer Affairs, Food & Public Distribution
  • Steps taken by the Government to contain prices of essential food items
  • Transportation of PDS foodgrains through waterways to reduce transport cost
  • Computerisation PDS to make the system more efficient
  • States gets another six months for implementation of national food security act
  • Measures to augment domestic availability of pulses
  • FCI has adequate storage capacity for PDS foodgrains
  • Min of Corporate Affairs
  • Pending Cases with Company Law Board
  • Violation of Company Act
  • Overhauling of Companies Act
  • Market Research and Analysis Unit
  • Min of Culture
  • Mahesh Sharma Inaugurates Exhibition of Pattanam Excavation
  • Min of Defence
  • Arnia Encounter : Army Eliminates Four Terrorists
  • Avinash Chander to Continue as DRDO Chief on Contract After Superannuation
  • Air Chief Dedicates New Pilot Selection System for IAF to the Nation
  • Visit by the Chief of the Air Staff Indian Air Force to Indonesia
  • Crash of Sukhoi-30 MK1 Aircraft
  • Unauthorised Construction on Defence Land
  • Torpedo Recovery Vessel
  • Strength of NCC Cadets
  • Cyber Security
  • Export Of Defence Equipment
  • Funds Spent Under Corporate Social Responsibility
  • Defence PSUs
  • Military Canteen
  • Chinese Incursions
  • Purchase of Apache Helicopters
  • Modernisation Of Ordnance Factories
  • Defence Land
  • One Rank One Pension Scheme
  • Defence Projects
  • Suicides by Defence Personnel
  • Border Roads Organisation
  • Pragati Missile
  • Export of Defence Equipment By DRDO
  • Aircraft Crashes
  • Private Participation in Domestic Aerospace Arena
  • Recruitment of Scientists in DRDO
  • Ministry of Finance
  • Growth in the Second Quarter of the Current Financial Year 2014-15 has Been Broadly on the Expected Lines: Finance Ministry
  • Competition Commission of India to Organise Two Day ICN Merger Workshop 2014 on International Cooperation and Remedies in Merger Review;Finance Minister to Deliver Inaugural Address
  • Varishta Pension Bima Yojana (VPBY) Launched; to Benefit Senior Citizens Aged 60 Years and Above
  • Limit Free Transactions Through ATMs in Six Metro Centres Only
  • Implementation of Goods and Service Tax (GST)
  • 1641 Companies Listed with National Stock Exchange: at Least One Women Director Required on Board Of Directors
  • India Signs Agreement with ADB of US$200 Million to help State of Punjab Strengthen its Finances and thereby help with Socio-Economic Development of the State
  • India Signs Agreement with ADB for a Loan of Us $100 Million to Support Kerala’s Additional Skill Acquisition Program; 2,35,000 Needy Students in Kerala to be Benefited under the Program during 2014-2018
  • Long Term Rural Credit Fund; to Provide Support to Cooperative Banks and Rrbs with an Initial Corpus of Rs. 5,000 Crore
  • Asian Infrastucture Investment Bank
  • Expenditure Management Commission
  • Security Features of Indian Currency
  • Introduction Of Plastic Notes
  • To Give Autonomy to Public Sector Banks (PSBS), The Work of Selection and Appointment of Statutory Central Auditors (SCAS) Delegated to Individual PSBS for the Year 2014-15 Onwards
  • Appointment of CMD and EDS in Banks
  • Printing Currencey Notes in Indigenous Papers
  • Electronic Mode of Payment
  • Monetary Policy
  • E-Biz Portal Launched for Providing Single Online Platform to Companies
  • Initiation of Economic Reforms by the Government
  • Min of Food Processing Industries
  • Losses in Agricultural Commodities
  • Investment in FPIs and Food Parks
  • Min of Health and Family Welfare
  • Healthcare Services in North-Eastern Region
  • Essential Drugs
  • Allocation of Funds Under NRHM
  • Financial Assistance for Health Sectors in the Country
  • Ban on Testing of Cosmetics on Animals
  • Funds Allocation for Strengthening Health Care System Under National Health Mission
  • Steps taken to Curb Adulteration in Food Items
  • Steps Taken to Modernise CGHS Centres
  • Decline in Death due to Rabies
  • Taxation on Beedis and Cigarettes
  • Setting up new AIIMS like Institutes under PMSSY
  • Universal Immunization Programme
  • Upgradation of Medical Colleges Under PMSSY
  • Min of Home Affairs
  • MoS (Home) Shri Kiren Rijiju meets Thai Interior Minister in Bangkok Shri Rijiju thanks Thailand for cooperation in apprehending criminals wanted in India
  • Charge of DG, CRPF
  • Min of Human Resource Development
  • District and Block Level Education Officers to be Awarded by NUEPA
  • Min of Information & Broadcasting
  • My Name is Salt: A Documentary on Plight of Salt Workers in Ran Kachh
  • There is no running away from Bollywood says famous ad film director Bauddhayan Mukherji
  • Corbo: An insight into separatist struggle of Quebec
  • Min of Labour & Employment
  • Lok Sabha Passes the Labour Laws (Exemption from Furnishing Returns and Maintaining Registers by Certain Establishments) Amendment Bill, 2014
  • Min of Law & Justice
  • Press Communique
  • Press Communique
  • Min of Petroleum & Natural Gas
  • MOU between India and Mozambique on cooperation in the field of Oil and Gas
  • Global crude oil price of Indian Basket was US$ 72.51 per bbl on 27.11.2014
  • Ministry of Railways
  • Round the Clock All India Security Helpline ‘1800-111-322’ for Train Passengers is Operational
  • Railways allow PPP in Computerized Passenger Reservation System
  • 3289 Coaches Manufactured by Railway Production Units during 2013-14
  • Religious Circuit Trains to Connect more Pilgrimage Places
  • Min of Road Transport & Highways
  • Shri Nitin Gadkari Inaugurates CEAI Seminar
  • Min of Statistics & Programme Implementation
  • ESTIMATES OF GROSS DOMESTIC PRODUC
  • Min of Textiles
  • Export of Textiles
  • Improving Working Conditions of Weavers
  • Min of Tribal Affairs
  • Vanbandhu Kalyan Yojana
  • Committee on Condition of Tribals
  • Min of Urban Development
  • ‘Rahagiri’ gets UD Ministry’s Excellence Award; Karnataka bags four of ten Awards of Excellence for urban transport initiatives; Shri Babul Supriyo calls for adoption of Intelligent Transport Initiatives
  • Do smart cities protect interests of children?
  • Ministry of Water Resources
  • Storage Status of 85 Important Reservoirs of the Country as on November 27, 2014
  • Planning Commission
  • 70.43 crore AADHAAR card issued
  • Measures for effective implementation PPP projects

Previous Date

 
Cabinet Committee on Economic Affairs (CCEA)13-December, 2011 19:56 IST
National Electricity Fund (Interest Subsidy) Scheme to subsidize interest rate on loans

The Cabinet Committee on Economic Affairs today approved setting up of the National Electricity Fund (Interest Subsidy Scheme) to provide interest subsidy etc. aggregating to Rs.8466 crore for a period of 14 years for projects of electricity distribution sector.

The scheme will become operational within a period of 6 to 12 months.

The National Electricity Fund (Interest Subsidy Scheme) is being set up to provide interest subsidy on loans to be disbursed to the Distribution Companies (DISCOMS) - both in the public and private sector, to improve the distribution network for areas not covered by Rajiv Gandhi Gramin Vidyutikaran Yojana (RGGVY) and Restructured Accelerated Power Development and Reforms Programme (R-APDRP) project areas, The preconditions for eligibility are linked to certain reform measures taken by the States and the amount of interest subsidy is linked to the progress achieved in reforms linked parameters. The nodal agency for National electricity Fund(NEF) would be Rural Electrification Corporation Ltd(REC).

In order to evacuate and distribute the power generated as a result of the ambitious capacity addition programme, commensurate investment is required in transmission and distribution sector. The DISCOMS, which handle the distribution sector, are in financial stress due to a variety of reasons. The national average Aggregate Technical and Commercial (AT&C) loss during 2007-08 was 29.24%, ranging from 13.10% to 61.59% for different DISCOMS. The Thirteenth Finance Commission had reported that the projected aggregate losses of State Transmission and Distribution Utilities at 2008 tariffs would be at Rs.1,16,089 crore by 2014-15. Thus the Central government intervention is required for revamping and restructuring the distribution sector.

The investments in distribution sector are already being undertaken under the RGGVY and R-APDRP covers towns with population of more than 30,000 (10,000 in case of Special Category States). RGGVY primarily addresses the issue of providing access of electricity to un-electrified or partially electrified villages. The scope of works and amount of investment in these schemes is not adequate to meet the entire requirement of the distribution sector. There is no scheme to cover towns with population of less than 30,000 (10,000 in case of special category States); for reduction of AT&C losses in rural areas; for augmentation of distribution networks necessitated by capacity addition; for system strengthening and upgradation; and for encouraging States to undertake agricultural and domestic feeder separation in rural areas. While it is important to channelise investments in distribution sector, it is also equally important to link these investments to reforms, as the viability of the entire power sector depends on the viability of the distribution utilities. Accordingly, the proposed scheme links interest subsidy with reforms.

There would be two categories of States for working out the interest subsidy-special category and focused states, and States other than special category and focused states. The precondition of eligibility are operationalisation of State Electricity Regulatory Commission (SERC), formulation of business plan for turn around of utilities in a times bound manner, reorganization of State Electricity Boards (SEB), release of subsidy, submission of audited annual accounts and timely filing of tariff petition. Any pre-condition of eligibility can be relaxed/modified to overcome any difficulty in operating this Scheme, with the specific approval of Steering Committee, to be chaired by Secretary(Power).

Financial implications of the National Electricity Fund would be interest subsidy aggregating Rs.8466 crore spread over 14 years for loan disbursement amounting to Rs.25,000 crore for distribution schemes sanctioned during the 2 years viz., 2012-13 and 2013-14. The outlay of' Rs.8466 crore would cover payment of interest subsidy to the borrowers, service charges to the nodal agency, payments to independent evaluators and other incidental expenses.

The implementation of the scheme would result in reduction of AT&C losses, reduction of gap between Average Cost of Supply and average revenue on subsidy received basis, improving return on equity and issue of notification of multiyear tariff along with investment in distribution sector. This scheme will facilitate Central government intervention, and catalyst for revamping and restructuring the state sector distribution scheme.

********


SH/SKS
(Release ID :78626)

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