Cabinet approves measures to provide liquidity in the Power Sector Dues to the financial stress caused by COVID-19

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..... Cabinet approves measures to provide liquidity in the Power Sector Dues to the financial stress caused by COVID-19 - News and Press Release Dated:- 19-8-2020 - News - The Cabinet Committee on Econom .....

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..... ic Affairs, chaired by Prime Minister Shri Narendra Modi, has approved a one-time relaxation to Power Finance Corporation (PFC) and Rural Electrification Corporation (REC) for extending loans to Distr .....

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..... ibution Companies (DISCOMs) above limits of working capital cap of 25% of last year s revenues under Ujwal DISCOM Assurance Yojana (UDAY). One-time relaxation would help in providing liquidity to t .....

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..... he power sector and ensure payments by State Governments to DISCOMs. Background: The outbreak of the global pandemic COVID-19 in the country and the consequent nationwide lockdown has exacerba .....

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..... ted the liquidity problems for the power sector. Revenues of the power distribution companies have nosedived as people are unable to pay for the electricity consumed while power supplies., being an e .....

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..... ssential service, have been maintained. Energy consumption has decreased substantially. The liquidity of the power sector is not expected to improve in the short term, as economic activity and power .....

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..... demand will take some time to pick up. There is, thus, an immediate need to infuse liquidity in the power sector for continuation of power supply. - News - Press release - PIB Tax Management Indi .....

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..... a - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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