Rs.500,000 crore shortfall in financing power projectsSeptember 10th, 2009 NEW DELHI - The government Thursday said there is a shortfall of about Rs.500,000 crore for financing power projects in the country, a prime reason for slow pace of capacity addition. "The power sector as a whole requires a huge investment and there is a gap of around Rs.500,000 crore in financing the power generation capacity addition projects," said Minister of State for Power Bharatsinh Solanki here.
Continuation of Remote Village Electrification Programme approvedAugust 27th, 2009 NEW DELHI - The Cabinet Committee on Infrastructure today approved the continuation of Remote Village Electrification Programme of the Ministry of New and Renewable Energy during the remaining period of the 11th Plan. The Programme aims to provide renewable energy based lighting/basic electricity facilities with 90 per cent Central Financial Assistance to those unelectrified villages and hamlets which are not going to be covered under RGGVY due to infeasibility of grid extension.
80,000 MW of fresh power generation ordered: MinisterAugust 18th, 2009 NEW DELHI - The government Tuesday said it had already placed orders for 80,000 MW of fresh electricity generation capacity, against the target of 78,700 MW during the entire eleventh five-year plan period of 2007-12. "A capacity of about 16,395 MW has already been commissioned and the remaining capacity of 64,215 MW is under various stages of construction," Power Minister Sushilkumar Shinde
said during his inaugural address at a two-day international conclave here.
New nuclear plants approved for Gujarat, RajasthanJuly 30th, 2009 NEW DELHI - The government has accorded approval for setting up nuclear power plants in Gujarat and Rajasthan with a combined generating capacity of 2,800 MW, parliament was informed Thursday. The plants will be located at Kakrapar in Gujarat and Rawatbhata in Rajasthan and will each have two units of 700 MW each, Minister of State for Science and Technology and Earth Sciences Prithviraj Chavan said in a written reply in the Rajya Sabha.
Company for energy efficiency schemes on cardsJuly 27th, 2009 NEW DELHI - The government is planning to set up a new company to oversee and implement energy efficiency schemes and reduce transmission losses. The company, Energy Efficiency Services Ltd (EESL), will be a joint venture with equity participation of 25 percent each from its promoters - NTPC, PowerGrid Corp, Rural Electrification Corp and Power Finance Corp, Minister of State for Power Bharatsinh Solanki told parliament Monday.
Highlights of union budget for 2009-10 (Second Lead)July 6th, 2009 NEW DELHI - Highlights of the union budget for the current fiscal presented by Finance Minister Pranab Mukherjee in the Lok Sabha Monday:
- Agriculture debt waiver extended by six months
- Outlay for national rural health mission increased by Rs.2,057 crore from the Rs.12,070 crore provided in the interim budget
- Allocation towards National Rural Employment Guarantee Act increased by Rs.39,100 crore
- Allocation for Bharat Nirman scheme increased by 45 percent
- Rs.20 billion for rural housing
- Rural electrification scheme to get Rs.7,000 crore more
- Tax department to work on early introduction of Saral 2 forms
- Stimulus for print media extended from June 13 to Dec 31
- Rs.1,000 crore to accelerate irrigation projects
- Agriculture development fund increased from Rs.2.87 lakh crore to Rs.3.25 lakh crore
- Market development assistance scheme for exporters increased by 148 percent to Rs.124 crore
- Pre-shipment interest subvention set at 2 percent for textile exporters
- Will make sufficient funds for infrastructure development
- Allocation for national highways development stepped up by 23 percent
- Allocation for urban poor schemes to be raised to Rs.39,730 crore in 2009-10
- LNG infrastructure to be expanded
- Allocation for Jawaharlal Nehru Urban Renewal Mission raised by 87 percent to Rs.12,887 crore
Funds hiked 144 percent for ambitious rural job schemeJuly 6th, 2009 NEW DELHI - Finance Minister Pranab Mukherjee has allocated a whopping Rs.39,100 crore for the Congress-led government's flagship scheme under the National Rural Employment Guarantee Act (NREGA), a hefty 144 percent hike over the previous budget estimates. Reiterating the government's commitment to the scheme that promises 100 days of employment to rural youth, the finance minister said in his budget speech Monday that 4.47 crore households were covered under NREGA last year as against 3.39 crore earlier.
Budget has many schemes for common manJuly 6th, 2009 NEW DELHI - In keeping with the United Progressive Alliance (UPA) government's inclusive growth mantra, Finance Minister Pranab Mukherjee Monday announced a slew of schemes for the aam aadmi (common man).
The major measures announced in his union budget for 2009-10 are:
- Allocation towards National Rural Employment Guarantee Act increased by Rs.39,100 crore
- Agriculture debt waiver extended by six months
- Outlay for national rural health mission increased by Rs.2,057 crore from the Rs.12,070 crore provided in the interim budget
- Allocation for Bharat Nirman scheme increased by 45 percent
- Rs.20,000 crore for rural housing
- Rural electrification scheme to get Rs.7,000 crore more
- Agriculture development fund increased from Rs.2.87 lakh crore to Rs.3.25 lakh crore
- Allocation for urban poor schemes to be raised to Rs.39,730 crore
- LNG infrastructure to be expanded
- National Housing Bank to get Rs.2,000 crore for rural housing funds
- Higher education outlay increased by Rs.2,000 crore over interim budget
- Income tax exemption limit for senior citizens increased by Rs.15,000, for women and others by 10,000 each
- Duties on life saving drugs reduced
- Allocation for the minority affairs ministry raised to Rs.1,740 crore
- Banking services in under-banked areas to be increased, scheme allocated Rs.100 crore
- Rs.1,000 crore to accelerate irrigation projects
- Allocation for Jawaharlal Nehru National Urban Renewal Mission raised by 87 percent to Rs.12,887 crore
West Bengal power firm plans Rs.5,000 crore investmentsJuly 2nd, 2009 KOLKATA - State-owned West Bengal State Electricity Distribution Company Limited (WBSEDCL) is planning to raise Rs.5,000 crore in the next three years to fund rural and urban electrification, a top company official said here Thursday. "Around Rs.3,000 crore will be invested for rural electrification, Rs.1,000 crore for enhancement of urban facilities and another Rs.1,000 crore for customer service automation," Malay K.
Commonwealth Games needs more funds: Jaipal ReddyJune 17th, 2009 NEW DELHI - Union Finance Minister Pranab Mukherjee received varied proposals from allied ministries vis-à-vis allocations in the Union Budget that he has planned to present. Among those who submitted the respective ministry's suggestions was Minister of Urban Development, S Jaipal Reddy who called on the Finance Minister here on Tuesday.
Uttar Pradesh hopeful of surplus power next yearJune 11th, 2009 LUCKNOW - Uttar Pradesh is all set not only to achieve self-reliance in power, but if top officials are to be believed, it would also generate surplus energy. "The commissioning of two major power plants within the next 12 months will take the power generation up by about 2,500 MW," Uttar Pradesh Power Corp chairman Navneet Sehgal told IANS.
President Patil promises better deal for rural India (Lead)June 4th, 2009 NEW DELHI - With two-thirds of India's billion-plus people living in villages, President Pratibha Patil Thursday outlined a five-year agenda for the new government that has added emphasis on rural development, with fresh targets in areas such as irrigation, potable water, electrification, roads and telecom. If Prime Minister Manmohan Singh had promised a new deal for rural India when he took charge of the high office for the first time in 2004, Patil Thursday said the targets of all flagship programmes for rural development would be stepped up under his next United Progressive Alliance (UPA) government.
Every panchayat to be linked to broadband networkJune 4th, 2009 NEW DELHI - The government plans to connect every panchayat to a broadband network in the next three years and expects to reach 40 percent rural tele-density in the next five years. The initiative is part of its ambitious target to drastically improve infrastructure in the villages under its Bharat Nirman (Build India) programme.
Hyundai launches Accent model to run on cooking gasMay 21st, 2009 NEW DELHI - Hyundai Motors Thursday launched an LPG variant of its popular mid-sized sedan Accent, complementing the existing petrol, diesel and CNG variants already available. Dubbed the 'Accent eco', the car with a bi-fuel capability will be available for Rs.533,390 ex-showroom in Delhi, about Rs.35,000 costlier than the petrol variant.
Rs.1.31 trillion sanctioned for flagship programmesFebruary 15th, 2009 NEW DELHI - The government has allocated Rs.1.31 trillion (Rs.131,317 crore) for its flagship programmes in the coming fiscal. External Affairs Minister Pranab Mukherjee, while presenting the interim budget for 2009-10 to parliament Monday, said Rs.301 billion (Rs.30,100 crore) would be made available to the National Rural Employment Guarantee Scheme (NREGS) for the next financial year.