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New UserGovt to bear 60% of project cost under DDUGJY
19 Dec 2014
December 19: The government will be bearing the maximum financial burden of power transmission projects it envisages under the Deendayal Upadhyaya Gram Jyoti Yojana (DDUGJY) which had been announced in its current Budget.
Consequently, the Centre will fund 60% of the cost of a power project in the form of a grant, according to a Ministry of Power communique, while for “special category states”, which comprise all the north eastern states, including Sikkim, Jammu & Kashmir, Himachal Pradesh and Uttarakhand, the same will be 85%.
The contribution from the discoms’ own fund would be 10% and for special category states, 5%.
The debt component from FIs and banks would be 30% and 10% for the latter category.
It may be recalled that the estimated outlay for the scheme is Rs 43,033 crore, including a budgetary support of Rs 33,453 crore from the Government of India during the entire implementation period.
Funding pattern:
|
Agency |
Nature of support |
Quantum of support(Percentage of project cost) |
|
|
Other than Special |
Special Category |
||
|
Govt of India |
Grant |
60 |
85 |
|
Discom Contribution* |
Own Fund |
10 |
5 |
|
Lender {Fis/ Banks) |
Loan |
30 |
10 |
|
Additional Grant from GOI on achievement of prescribed milestones |
Grant |
50% of total loan component (30%) i.e. 15% |
50% of total loan component (10%) i.e. 5% |
|
Maximum Grant by GOI (iincluding additional grant on achievement of prescribed milestones} |
Grant |
75% |
90% |
# Special category states include all the north-eastern states, including Sikkim, J&K, Himachal Pradesh and Uttarakhand
Though the minimum contribution by the discom(s) is 10% (5% in the case of special category states), this can go up to 40% (15% in the case of special category states if they do not intend to avail of any loan.
In case the discom(s) do not avail of loans, the maximum eligible additional grant from the government would be 15% (5% in case of special category states on achievement of the prescribed milestones. The loan component would be provided by REC or other Fls/banks.
It may be noted that 100% grant shall be provided by the central government towards expenditure incurred on activities for bridging the missing links of the National Optical Fibre Network (NOFN), creation of rural electrification data hub at Rural Electrification Corporation & Project Management Agency (PMA) as per provisions in the scheme.
The grant support from Gol is proposed to be extended as per the following milestones:
|
Tranche |
Conditions for release of grant support by Gol |
Release of Grant component of |
|
1 |
(I) Approval of projects by monitoring committee |
10% |
|
2 |
Placement of Letter of Award (LoA) by the utility |
20% |
|
3 |
Utilisation of 90% of grant released by GoI (1st and 2nd Tranche) and 100% release of Discom contribution |
60% |
|
4 |
After completion of worlls |
10% |
The milestones for release of additional grant (50% of the loan component, ie, 5% for special category states and 15% for other states)
Additional grant (ie conversion of 50% of loan component) under the scheme will be released subject to achievement of the following milestones:
* Timely completion of the scheme as per laid-down milestones;
* Reduction in AT&C losses as per trajectory finalized by MOP in consultation with state governments (discom-wise);
* Upfront release of admissible revenue subsidy by state government based on metered consumption.