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UDAY to help TANGEDCO finances
Tamil Nadu will save around Rs 2,282 crores annually as savings on interest to TANGEDCO with a similar amount being saved per annum in cash flow due to the repayment of principal on the state government taking over a portion of its consequent of TN joining the central government’s UDAY (Ujwal Discom Assurance Yojana) scheme a couple of days ago.
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migrator
migrator
Chennai
Top officials said that the corporation’s total loan outstanding as on September 30, 2015 was Rs 81,312 crores under the generation and distribution heads. This also included a state government loan of Rs 6,223 crores. UDAY ensures takeover of 75 % of distribution loans by the state governments which in TANGEDCO amounts to Rs 36,883 crores. “But the additional impact on state finances and UDAY scheme’s FRBM (Fiscal Responsibility and Budge Management) limitations, loans taken over by the TN government amounts to only Rs 30,420 crores, of which 75 % amounts to Rs 22,815 crores” officials added.Â
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