Discoms’ projected Rs 90,000 cr loss ‘grossly inflated’: Power ministry
The ministry of power in a statement said the projections on the financial loss of state owned power distribution companies (discoms), is erroneous and inflated. A recent report of Niti Ayog, citing a March dated analysis of ICRA Rating agency said discoms losses would increase to Rs 90,000 crore in FY21.
The ministry of power said this loss figure cited is “grossly inflated”.
ICRA in March in an analysis had indicated that discom losses will increase to Rs 90,000 crore in FY21, under a particular scenario. The rating agency had mentioned that net losses at PBT/PAT levels for FY2020 was about Rs 56,000 crore.
