Cabinet approves Rs 4,136 cr equity support to northeast states for hydropower development
Cabinet, chaired by the Prime Minister Narendra Modi on Wednesday gave nod to Rs 4,136 crore equity support to northeast states for hydropower development.
«This scheme has an outlay of Rs. 4136 crore to be implemented from FY 2024-25 to FY 2031-32.
A cumulative hydro capacity of about 15000 MW would be supported under the scheme. The scheme would be funded through 10% Gross Budgetary Support (GBS) for North Eastern Region from the total outlay of the Ministry of Power,» said the government in a press release.
The grant towards equity portion of the State Government of NER would be capped at 24% of the total project equity subject to a maximum of Rs.750 crore per project.
The cap of Rs.750 crore for each project would be revisited, if required, on a case-to-case basis. The ratio of equity of the CPSU and the State Government in the JV would be maintained at the time of disbursing of the grant.
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