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Finance Commission discusses impact of power reforms on states
New Delhi, Feb 15 (IANS) The Fifteenth Finance Commission on Friday discussed the impact of the power sector reforms on state finances in a meeting with the Ministry of Power.
“The fiscal positions of states have been impacted by exposure to guarantees provided to power utilities and other public sector units, including those in the transport sector,” an official statement said.
Power Minister R.K. Singh chaired the meeting along with Finance Commission Chairman N.K. Singh. It was attended by members of the Commission and senior officers of Power Ministry and its Public Sector Undertakings (PSUs).
“The liabilities on account of guarantees provided to power units are quite significant in a number of states,” it said. The stakeholders discussed the issue in detail as there was a significant correlation between the guarantees and state finances.
By assigning a weight of 90 per cent to the power sector guarantees and 10 per cent to other guarantees, including transport sector guarantees, the extended debt of all states, in aggregate was around 23.3 per cent of the GDP in 2011-12.
The earlier two Commissions had pointed out that some states had not raised tariffs for 8-9 years despite increasing deficits and that the absence of timely tariff increases had adversely affected the operations of the utilities.
The regulatory institutions, in general, lacked sufficient capabilities and urged the expediting of tariff reforms, including a multi-year tariff implementation, as required by the Electricity Act, 2003. The Ministry discussed the remedial steps in this regard.
The Ministry concurred with the views of the states that compliance with the directions of Appellate Tribunal for Electricity (APTEL) by State Electricity Regulatory Commissions (SERCs) would bring about discipline and simplify procedures in the distribution sector.
It will also lead to improvements in the revenue and liquidity position of distribution utilities. The meeting discussed in detail updated status of the UDAY Scheme.
The Ministry has proposed to the Commission a scheme for supporting transiting to electric mobility in India – for rolling out EV infrastructure across 70 cities and 20 per cent highways during 2020-25 at a cost of Rs 5,000 crore.
The Commission and the Ministry agreed to have a separate meeting soon with Ministry of New and Renewable Energy.
–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.
Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.
During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.
On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”
Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.
It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.
Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.
Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”
On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”
The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.