To restructure the debt of the state power distribution companies, the Power Ministry will seek a budgetary financial support of Rs 1,200 crore from the Ministry of Finance, for 2013-14. In this regard, Power Minister Jyotiraditya Scindia will be meeting the state energy ministers on February 5, to bring them on board with the Centre's financial restructuring package plan to bailout the discoms.
Though the Power Ministry has now extended the last date for the states to apply for restructuring the loans of their respective electricity boards to March 31. The earlier date was December 31, 2012. The accumulated losses of discoms are estimated to be whopping Rs 2.46 lakh crore as on March 2012 and the same was pegged at around Rs 1.9 lakh crore till March 2011.
Back on, in September last year, the government had approved the scheme for restructuring of Rs 1.9 lakh crore (till March 2011) debt of State Electricity Boards, in which 50 percent of the short-term outstanding liabilities would be taken over by the state governments. While, the balance 50 percent loans would be restructured by providing moratorium on principle and best possible terms for repayments.
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: