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Discoms’ outstanding dues to gencos rise 4.4% to Rs 1,21,030 crore in January

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Power

Total outstanding dues owed by electricity distribution companies (discoms) to power producers rose 4.4 per cent year-on-year to Rs 1,21,030 crore in January 2022.

Discoms owed a total of Rs 1,15,904 crore to power generation firms in January 2021, according to portal PRAAPTI (Payment Ratification And Analysis in Power procurement for bringing Transparency in Invoicing of generators).

On a sequential basis also, total dues in January increased from Rs 1,15,462 crore in December 2021.

The PRAAPTI portal was launched in May 2018 to bring in transparency in power purchase transactions between generators and discoms.

In January 2022, the total overdue amount, which was not cleared even after 45 days of a grace period offered by generators, stood at Rs 1,01,357 crore as against Rs 99,650 crore in the same month a year ago. The overdue amount stood at Rs 99,981 crore in December 2021.

Power producers give 45 days to discoms to pay bills for electricity supply. After that, outstanding dues become overdue and generators charge penal interest on that in most cases.

To give relief to power generation companies (gencos), the Centre enforced a payment security mechanism from August 1, 2019. Under this mechanism, discoms are required to open letters of credit for getting power supply.

The Centre had also given some breathers to discoms for paying dues to gencos in view of the COVID-19-induced lockdown. The government had also waived penal charges for the late payment of dues.

In May 2020, the government had announced a Rs 90,000-crore liquidity infusion for discoms under which these utilities got loans at economical rates from Power Finance Corporation (PFC) and REC Ltd.

This was a government initiative to help gencos remain afloat. Later, the liquidity infusion package was increased to Rs 1.2 lakh crore and further to Rs 1.35 lakh crore.

Discoms in Rajasthan, Uttar Pradesh, Jammu & Kashmir, Telangana, Andhra Pradesh, Karnataka, Madhya Pradesh, Maharashtra, Jharkhand and Tamil Nadu account for the major portion of dues to gencos, the data showed.

Overdue of independent power producers amounted to 54.56 per cent of the total overdue of Rs 1,01,357 crore of discoms in January 2022.

The proportion of central PSU gencos in the overdue was 22.43 per cent.

Among the central public sector gencos, NTPC alone has an overdue amount of Rs 4,298.32 crore on discoms, followed by NPCIL – KUDANKULAM NUCLEAR POWER PLANT at Rs 2,745.21 crore, DVC at Rs 2,447.83 crore and NLC India at Rs 2,206.86 crore in January 2022.

Among private generators, discoms owe the highest overdue amount of Rs 26,648.56 crore to Adani Power, followed by Bajaj Group-owned Lalitpur Power Generation Company at Rs 4,966.09 crore in the month under review.

The overdue of non-conventional energy producers like solar and wind stood at Rs 19,651.15 crore in January 2022.

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Gold Price Today Rises: Check latest rates

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Gold rates in India rose for the second consecutive day, on Monday. The price of gold was Rs 100 higher than the previous day. In India, the gold rate today was Rs 49,090 per 10 grams of 22-carat gold. Yesterday, this price was Rs 49,080. The gold rate in Delhi per 10 grams of 22-carat gold is Rs 47,140. On the other hand, the gold rate in Kerala is Rs 44,990, according to data on goodreturns.in.Gold

However, according to a report by Reuters, the spot price of gold was down 0.2 per cent to $1,814.08 per ounce. This was due to the hawkish signals by the US Federal Reserve. The US treasury yields were trading near the two-year high.

Gold is, usually, considered a hedge against inflation but it is highly sensitive to the changes in US interest rates. The country has signalled that due to rising inflation, it will consider a tighter stance and interest rates may soon start to rise.

Price On January 17, 2022: Check Latest Gold Rates In Your City Here

The following prices may not match the local prices because these do not include GST, TCS and other taxes. These are the prices per 10 grams of 22-carat of gold in various cities across the country.

Gold rate in Chennai: ₹45,340
Gold rate in Mumbai: ₹47,090
Gold rate in Delhi: ₹47,140
Gold rate in Kolkata: ₹47,190
Gold rate in Bangalore: ₹44,990
Gold rate in Hyderabad: ₹44,990
Gold rate in Kerala: ₹44,990
Gold rate in Pune: ₹46,450
Gold rate in Vadodara: ₹46,760
Gold rate in Ahmedabad: ₹46,490
Gold rate in Jaipur: ₹47,200
Gold rate in Lucknow: ₹45,800
Gold rate in Coimbatore: ₹45,340
Gold rate in Madurai: ₹45,340
Gold rate in Vijayawada: ₹44,990
Gold rate in Patna: ₹46,450
Gold rate in Nagpur: ₹47,090
Gold rate in Chandigarh: ₹45,800
Gold rate in Surat: ₹46,490
Gold rate in Bhubaneswar: ₹45,000
Gold rate in Mangalore: ₹44,990
Gold rate in Visakhapatnam: ₹44,990
Gold rate in Nashik: ₹46,450
Gold rate in Mysore: ₹44,990

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Govt employees may get bumper salary hike ahead of Republic Day

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In what could be good news, lakhs of central government employees impatiently waiting for an increment could soon receive a salary hike. According to media reports, the Central government could soon announce a hike in the salaries of government employees before January 26.

The Central government could reportedly announce an increase in the fitment factor of central and state government employees. A hike in the fitment factor will increase the minimum wages of central government employees.

Central government employees unions have long been urging the Centre to increase the minimum wages of Rs 18,000 to Rs 26,000, along with an increase in the fitment factor from 2.57 times to 3.68 times.

The Central government could give an update about the fitment factor of central employees before January 26. This means that government employees could receive the good news by Republic Day.

Currently, the central government employees are receiving salaries under the fitment factor of 2.57 per cent. The demand of the unions is to increase the fitment factor to 3.68.

If the government increases the fitment factor to 3.68 from per cent 2.57 per cent, the minimum pay of government employees will increase by Rs 8,000. The basic salary at 3.68 per cent fitment factor will increase to Rs Rs 26,000 from Rs 18,000. Also Read: Google spends Rs 7,500 crore to buy new office in London: Check photos

According to the basic calculations, upon increasing the fitment factor to 3.68 per cent, the basic salary will increase to Rs 26,000. Currently, the central government employees receive a monthly salary of Rs 46,260 (18,000 X 2.57 = 46,260) if their basic pay is Rs 18,000, as per the 2.57 fitment factor.

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Budget session of Parliament to commence on January 31

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The budget session of Parliament is set to commence on January 31 and will conclude on April 8. The first half of the budget session will run from January 31 to February 11. It will reassemble on March 14 to sit until April 8, subject to government exigencies.

The President will also address both Houses of Parliament assembled together at 11 am on January 31. The government will present the Budget for the financial year 2022-23 on February 1. “The 256th Session of Rajya Sabha (Budget Session – 2022) is summoned to meet on Monday, January 31, and subject to exigencies of Government Business, the Session may conclude on Friday, April 8.

During this period, Chairman may be moved to kindly adjourn the Rajya Sabha on Friday, February 11 to reassemble on Monday, March 14 to enable the Department-related Parliamentary Standing Committees to consider the ‘Demands for Grants relating to Ministries/Departments and prepare their reports,” a letter of Additional secretary-general of Ministry of Parliamentary Affairs Minister stated.

There will be no sitting on March 18 on account of Holi. “The Union Budget for 2022-23 will be laid in the Rajya Sabha after its presentation in Lok Sabha on Tuesday, February 1 at 11.00 am,” the letter said. Recently more than 400 staff members of Parliament have tested positive for COVID-19. Consequently, the Chairman of Rajya Sabha and Speaker of Lok Sabha has reviewed the situation and given instructions to both houses to prepare a plan for the smooth functioning of both houses during the budget session of Parliament amid COVID -19 Pandemic.

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19 Jan 2022, 8:28 AM (GMT)

Coronavirus Stats

37,901,241 Total Cases
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