Budget 2019: Investments By State-Run Power Firms To Drop 23% In FY20
The highest cut of 47.34 percent in the investment has been done for Power Grid Corporation.
The government has reduced the total investment by seven state-owned power companies, including NTPC Ltd. and Power Grid Corporation Ltd., by 23 percent to Rs 43,667.05 crore for 2019-20, compared with the revised estimate of Rs 56,742.49 crore for the previous financial year.
The highest cut of 47.34 percent in the investment has been done for Power Grid Corporation to Rs 15,000 crore for 2019-20, compared with the Rs 28,487.53 crore revised estimates for 2018-19. The investment by the company was budgeted at Rs 25,000 crore for 2018-19, according to the budget document presented on Friday in the Parliament.
In the case of NTPC, the investment for 2019-20 has also been reduced to Rs 20,000 crore from Rs 22,300 crore for 2018-19. The investment for 2018-19 was not revised. The investment by state-run hydro power giant NHPC Ltd. has been increased to Rs 3,806 crore for 2019-20 from the revised estimate of Rs 2,577.40 crore for 2018-19. The investment by the company for 2018-19 was budgeted at Rs 2,739.86 crore.
The investment by Damodar Valley Corporation Ltd. has been pegged at Rs 1,835.26 crore for this financial year, higher than the revised estimate of Rs 1,514.38 crore for 2018-19. The investment was budgeted at 1,605.64 crore for 2018-19. According to the budget, North Eastern Electric Power Corporation Ltd. will invest Rs 925.79 crore this fiscal, compared with the revised estimate of Rs 61 crore for this fiscal. The investments by the company was budgeted at Rs 389.24 crore for 2018-19.
Satluj Jal Vidyut Nigam Ltd. will invest Rs 1,200 crore in this financial year, compared with Rs 935 crore budgeted for 2018-19. The investment of the company was not revised. Tehri Hydro Development Corporation Ltd. will invest Rs 900 crore in the next financial year, compared with the revised estimate of Rs 867.18 crore for 2018-19. The investment of the company was budgeted at Rs 1,300.37 crore for 2018-19.
According to the Budget 2019-20, the total expenditure of the power ministry has also been pegged higher at Rs 22,322.27 crore for this fiscal, compared with the revised estimate of Rs 20,062.19 crore for 2018-19. It was budgeted at Rs 15,769.92 crore for 2018-19.