PGCIL Did Not Recover Rs 6,853 Crore Relinquishment Charges from Customers: CAG
4 years, 3 months ago

PGCIL Did Not Recover Rs 6,853 Crore Relinquishment Charges from Customers: CAG

News 18  

State-run Power Grid Corporation did not recover Rs 6,853.43 crore from customers for relinquishing long-term access to transmission network which resulted in higher electricity tariff, a CAG report has flagged. The Comptroller and Auditor General audit report on planning and implementation of transmission projects by Power Grid Corporation of India Ltd was presented in Parliament on Friday. The CAG also found that due to delay in completion of projects within prescribed CERC timelines, the PGCIL also lost the opportunity of earning Rs 112.51 crore towards additional Return on Equity as part of tariff. As per the guidelines issued by Ministry of Power this network plan is required to include projects for new transmission lines and substations and strengthening and upgradation of existing lines.

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History of this topic

CAG Report Indicts TN Govt Under AIADMK Regime for Losses Worth Crores
3 years, 5 months ago

CAG Report Indicts TN Govt Under AIADMK Regime for Losses Worth Crores

News 18  

The Comptroller and Auditor General of India’s report has flagged undue benefit to contractors, extra and wasteful expenditure besides loss to exchequer all together running into crores of rupees, in its audit on Tamil Nadu government undertakings tabled in the Assembly on Thursday. On Tamil Nadu Industrial Development Corporation Bio Park, the report under the heading “wasteful expenditure,” said procurement …

CCEA Approves Asset Monetisation by PGCIL, to Garner Rs 7K Cr in First Lot Sale
4 years, 3 months ago

CCEA Approves Asset Monetisation by PGCIL, to Garner Rs 7K Cr in First Lot Sale

News 18  

The Cabinet Committee on Economic Affairs on Tuesday approved asset monetisation of subsidiaries of Power Grid Corporation of India Ltd through infrastructure investment trust which would help the firm garner Rs 7,000 crore in the first lot. “The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, in a path breaking reform, has approved monetisation of assets of …

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