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English Release 19-December 2014
Date Month Year
  • President's Secretariat
  • President Mukherjee Receives the President of Bangladesh in Rashtrapati Bhavan
  • Prime Minister's Office
  • PM tweets in Hebrew to greet people on the occasion of Hanukkah
  • PM's meeting with H.E. Md. Abdul Hamid, President of Bangladesh
  • Dainik Jagran CMD calls on PM, presents demand drafts worth Rs 4 crores towards PMNRF
  • Text of PM's statement in the Lok Sabha on the granting of bail to 26/11 accused, Zaki-ur-Rehman Lakhvi, in Pakistan
  • PM conveys best wishes to people of Goa, on Goa Liberation Day
  • PM condoles the passing away of eminent Gandhian Shri Chunibhai Vaidya
  • Election Commission
  • Bye-elections to the Uttar Pradesh Legislative Council from Kanpur Division Graduates’ Constituency
  • Min for Develop. of North-East Region
  • DoNER Minister Convenes Meeting of MPs from North East
  • Min of Agriculture
  • Rise in Price of Onion
  • Performance of National Food Security Mission (NFSM)
  • Use of Modern Agricultural Techniques
  • Antibiotic Content in Chicken Meat
  • Setting up of National Centres for Developing
  • Cold Storage Facilities for Horticulture Products
  • Conservation of Indigenous Cattles
  • Agricultural Production in Bihar
  • Area Coverage Under Rabi Crops
  • Avian Influenza at Sukhna Lake Chandigarh
  • Min of Chemicals and Fertilizers
  • Prices of Fertilizers Remained About the Same Over Last Two Years
  • Min of Commerce & Industry
  • Trade Agreement with GCC
  • Incentives to Special Economic Zones
  • Foreign Trade
  • Export by Small and Medium Pharmaceutical Manufacturers
  • Export Through Micro, Small and Medium Industries
  • Awareness About Filing Patents
  • Area Norms Under NIMZs
  • Compulsory Licensing on Patented Drugs
  • Min of Comm. & Information Technology
  • Shri Ravishankar Prasad says that ‘Digital India’ will be a Game Changer for the Country
  • Min of Consumer Affairs, Food & Public Distribution
  • Improvement in PDS is one of Government's key priorities
  • Measures to reduce pendency of cases in the consumer courts
  • Min of Corporate Affairs
  • International Financial Reporting Standards
  • Norms of Corporate Fraud Reporting
  • Sharing Data with Regulators
  • Certificate Programme in CSR
  • Conducting of CA Exams
  • Min of Defence
  • DRDO Tests 1000 Kg Class Indigenous Guided Glide Bomb
  • DRDO's Parachute System for Recovery of Mission Crew Capsule
  • Manufacturing of Aircraft
  • Losses to S&T Laboratories due to Hudhud Cyclone
  • Construction of Border Roads
  • Recognition of Soldiers as Martyr
  • Chairman COSC & CAS Air Chief Marshal Arup Raha leaves for a two day visit to Mumbai
  • Supply of Sub-Standard Food to Soldiers
  • Laboratories of DRDO
  • Import of Weapons
  • Construction of Roads in Border Areas
  • Procurement in Defence Sector
  • Science Audit of DRDO
  • Induction of Tejas in Indian Air Force
  • Armed Forces Participation in UN Peacekeeping Missions
  • Use of Helicopters
  • Illegal Entry of Helicopters / Aircraft
  • Defence Production Units
  • Special Uniform for Soldiers
  • Civilians Working in Defence Sector
  • Advanced Jet Trainer
  • Attack on Fishermen
  • Modernization Projects of Army
  • Min of Environment and Forests
  • Report of the High Level Committee headed by Shri T.S.R. Subramanian to review various Acts administered by Ministry of Environment, Forest & Climate Change
  • Min of External Affairs
  • Statement by External Affairs Minister and Minister of Overseas Indian affairs Smt. Sushma Swaraj in Lok Sabha
  • Ministry of Finance
  • Union Finance Minister Shri Arun Jaitley Intoduces the Constitution Amendment Bill on Goods and Services Tax (GST) in Lok Sabha;
  • India Signs First Bilateral Advance Pricing Agreement (APA) With A Japanese Company; APA Period is Five Years;
  • Zero Mass Foundation
  • Overdraft Fdcilities by Banks
  • India’s Role in IMF and WB
  • Gold Holding Countries
  • Indian/Foreign MNCs
  • Corrigendum to Exchange Rate Notification 115/2014-Customs (NT) Dated 17.12.2014
  • Government Firmly Committed to Meeting its Fiscal Deficit Target for Current Year: Mid-Year Economic Analysis (MYEA) 2014-15
  • 7th India-China Financial Dialogue held Today
  • Exchange Rate of Foreign Currency Relating to Imported and Export Goods Notified
  • Terror Links of Chit Fund Companies
  • Performance of Regional Rural Banks (RRBs)
  • Cheque Clearance by Banks
  • Home Loans in Rural Areas by Public/Private
  • Expansion of Spmcil
  • Simplifying Norms for Crop Loan
  • Joint Fixed Deposit
  • Refinancing of Export Purchase Bills of Exporters
  • Bank Loan To Industries
  • Development of Smart Cities
  • Kisan Vikas Patra
  • Bharat Bill Payment System
  • Min of Health and Family Welfare
  • Initiatives taken to Reduce Malnutrition
  • Ingredients in Soft Drinks
  • Indian Medical Students in Ukraine
  • Institutes of Aging and Advanced Nursing
  • Medical Entrance Test
  • Quality and Safety of Generic Drugs
  • Treatment to Road Accident Victims and Women in Labour
  • Funds for AYUSH Facilities
  • Utilization of Imprest Money by Hospitals
  • Assistance by USA for Mothers and Newly Born Children
  • Diagnosis of Thalassemia, Sickle Cell and Haemophilia
  • CGHS Wellness Centres
  • OncoNet Project for Cancer Treatment
  • Online Services for Patients
  • Cancer Care Facilities
  • Min of Home Affairs
  • Union Home Minister says India and Mongolia need increased cooperation to prevent transnational crimes
  • Min of Labour & Employment
  • Shri Bandaru Dattareya chairs 205th meeting of Central Board of Trustees of EPF
  • Min of Personnel, Public Grievances & Pensions
  • Press Note
  • Min of Petroleum & Natural Gas
  • Production Performance of Oil & Natural Gas Sector for the month of November, 2014
  • Global crude oil price of Indian Basket was US$ 58.22 per bbl on 18.12.2014
  • Min of Power
  • Delhi’s Power Infrastructure Upgradation Begins with Dedication of 220kv GIS Sub Station at Peera Garhi & Foundation Stone Laying of 220 kv Sub Station at Pappan Kalan
  • Electricity Amendment Bill, 2014 Introduced in Lok Sabha; Changes Aimed at Promoting Competition, Efficiency in Operations and Improvement in Quality of Supply of Electricity
  • Ministry of Railways
  • Railways to Plan Seven More Premium Trains
  • Work Progress on Dedicated Freight Corridor Project
  • Indian Railways Install 229 CCTVs at Various PRS Locations
  • Indian Railways to Run Three More Pilgrim Special Tourist Trains
  • Railways’ Green Energy Initiatives
  • 362 Major Ongoing Railway Projects at Various Stages of Execution on Indin Railways
  • China Identifies Two Indian Railway Stations for Developing with Modern Amenities
  • Indian Railways to Undertake 102 Sites for Commeercial Development
  • Min of Statistics & Programme Implementation
  • Key indicators of situation of Agricultural Households in India
  • Key Indicators of Situation of Agricultural Households in India
  • Key Indicators of Land and Livestock Holdings in India Released
  • Key Indicators of Debt and Investment in India for 2013
  • Min of Urban Development
  • Nomination to Delhi Development Authority
  • Inauguration of Sarita Vihar Underpass in Delhi by the Union Urban Development Minister
  • Ministry of Water Resources
  • Storage Status of 85 Important Reservoirs of the Country as on December 18, 2014
  • Min of Women and Child Development
  • Complaints of Sexual harassment of women at workplace show an increase
  • Protection of Children from Sexual Offences (POCSO) Act, 2012
  • Drug and Substance abuse among children
  • 289 Projects sanctioned by the Government under ‘Ujjawala’ Scheme
  • Min of Skill Development, Entrepreneurship, Youth Affairs and Sports
  • Sporty India
  • Planning Commission
  • Rs 2537.50 crore released so far for development of KBK region
  • Special assistance for the development of Himalayan states
  • Steps for the development of knowledge based industries
  • Inter-ministerial committee to consider state specific guidelines for Centrally Sponsored Schemes
  • Consultations with different stakeholders for setting up of new institution for policy planning is underway

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.

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SH/SKS
(Release ID :78626)

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