Union Finance Minister Nirmala Sitharaman, on June 28, announced allocation of Rs 3.03 lakh crore for a revamped reform-based result-linked power distribution scheme. Of this, the Centre’s share would be Rs 97,631 crore.
The scheme is aimed at providing financial assistance to DISCOMS for infrastructure creation, up-gradation of system, capacity building and process improvement, the finance minister said during a press conference.
The scheme will put forward state-specific intervention in place of a "one size fits all" approach.
Participation is contingent to pre-qualification criteria like publication of audited financial reports, upfront liquidation of state government's dues/subsidy to DISCOMS and non-creation of additional regulatory assets, FM Sitharaman said.
The finance minister announced some new relief measures amid economic distress caused by the second wave of COVID-19 in the country.
The finance minister announced that 25 crore smart meters, 10,000 feeders and 4 lakh kilometre of LT overhead lines have been planned.
The ongoing work under the IPDS, DDUGJY and SAUBHAGYA scheme will be merged, FM Sitharaman said.