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₹3,300-cr. Central loan for power sector in Andhra Pradesh

The Centre has announced a ₹3,300-crore loan to Andhra Pradesh as part of the Aatma Nirbhar Bharat Abhiyaan for the implementation of various schemes pertaining to the power sector.

Union Minister for Power and New & Renewable Energy R.K. Singh asked the officials to release the loan at the earliest, a release said on Monday. Mr. Singh consented to extend the credit facility to the State during the deliberations with Energy Secretary N. Srikant and AP-Genco Managing Director G. Sai Prasad in New Delhi on Monday.

Direct Benefit Transfer

Mr. Singh was all praise for Chief Minister Y.S. Jagan Mohan Reddy for showing the way to other States by introducing the Direct Benefit Transfer (DBT) in the free power scheme.

The Union Minister was also appreciative of the steps taken for bringing in a greater degree of transparency and accountability in the power sector.

He assured that 30% subsidy would be provided on the 10,000 MW solar power project being undertaken by the State government. This project is aimed at ensuring free power supply to the farm sector. Tenders were invited for it recently.

Mr. Srikant explained the precarious financial position of AP DISCOMs and Mr. Singh promised to extend all possible support.

The State government had already sanctioned ₹17,904 crore in 2019-20 fiscal year for clearing the tariff subsidy dues. Amitesh Kumar Sinha, Joint Secretary of Ministry of Power, was present in the meeting.

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