Business

Cabinet approves Rs 1,700 crore more for northeast power project

The bigger allocations below the scheme had been earmarked for Assam (Rs 1,473.8 crore), Tripura (Rs 1,372.2 crore), Meghalaya (Rs 776.9 crore) and Nagaland (Rs 729.4 crore).

The Cabinet Committee on Economic Affairs, on Wednesday, accredited the revised value estimate of Rs 6,700 crore for the north jap area energy system enchancment challenge (NERPSIP) which goals to reinforce energy transmission and distribution programs within the space.

The challenge was sanctioned by the federal government in December, 2014, with the preliminary value estimate of Rs 5,111.3 crore, and is funded by the Centre and the World Bank on a 50:50 foundation.

The scheme is being applied via Power Grid Corporation of India within the six beneficiary north jap states of Assam, Manipur, Meghalaya, Mizoram, Nagaland, and Tripura, and is focused to be commissioned by December 2021.

The authorities had earlier knowledgeable the parliament that the challenge was scheduled to be accomplished by November, 2020.

The bigger allocations below the scheme had been earmarked for Assam (Rs 1,473.8 crore), Tripura (Rs 1,372.2 crore), Meghalaya (Rs 776.9 crore) and Nagaland (Rs 729.4 crore).

“Implementation of this scheme will create a reliable power grid and improve north eastern region states’ connectivity to the upcoming load centers, and thus extend the benefits of the grid connected power to all categories of consumers of beneficiaries in north eastern region,” the federal government stated.

Do you realize What is Cash Reserve Ratio (CRR), Finance Bill, Fiscal Policy in India, Expenditure Budget, Customs Duty? FE Knowledge Desk explains every of those and more intimately at Financial Express Explained. Also get Live BSE/NSE Stock Prices, newest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t overlook to attempt our free Income Tax Calculator instrument.

Financial Express is now on Telegram. Click here to join our channel and keep up to date with the most recent Biz information and updates.

Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button