Relief Package of 70,000 Cr To Power Sector Amid Coronavirus
The entire India is under lockdown from 25 March to 3 May due to Coronavirus. Factories are closed due to nationwide lockdown. All economies, business are on a standstill. Construction activity is suspended, restaurants and shops are also closed. The common man is struggling.
However, the power companies are also in crisis. Their balance sheet has deteriorated so much that the government is working on a financial package of Rs 70,000 crore for the power sector due to cash crunch, sharp fall in electricity bill collections and unchanged tariffs. Top government officials said that the rise in electricity rates has fallen to around 80 percent of the primary revenue sources for distribution companies that deliver electricity to homes, factories and corporate towers.
Despite the heat, electricity demand decreased in peak hours
In the northwestern plains, the demand for electricity in peak hours has declined sharply, despite the heat coming rapidly in many areas with 40 degree centigrade temperature.
Bill collection comes from Rs 55,000 crore to Rs 12,000 crore
Current power consumption has reduced to 125 GW as compared to 165-168 GW in April 2019. Due to this, there has been a huge decline in the bill collection of discoms. During the 30-45 day cycle last year, DISCOM collection was around Rs 55,000 crore, while the average collection during the last 30 days has come to around Rs 12,000 crore. The Union Ministry of Power will now try to fast track the financial package of Rs 70,000 crore which will help the power companies in crisis to get out of this difficult time.
In India cases rise to 18,601; death toll rises to 590
According to data, the number of Covid-19 infected people worldwide has crossed 2 million. So far, the epidemic has killed 1,44,000 people worldwide. America is most affected by this. It has killed 35,000 people in the US and infected over 7,00,000 people.
Total of 1336 new cases have been reported in India in the last 24 hours. The number of people infected with the Covid-19 epidemic, including foreign nationals, has increased to 18,601. The Ministry of Health has given information about this. The Ministry of Health, presenting the latest data in the morning said that a total of 14,759 cases are active. A total of 3,252 patients who have recovered fully after treatment have been discharged from the hospital, while 590 people have died due to the epidemic.
