The Centre said on Wednesday that states will get financial incentive of Rs 1.43 lakh crore for 2023-24 for reforms in the power sector. It has permitted additional borrowing of Rs 66,413 crore by 12 states in the last two financial years for undertaking power sector reforms.
Based on the recommendations of the power ministry, the finance ministry has granted permission to 12 state governments for reforms undertaken in 2021-22 and 2022-23, said an official statement. The ministry also made provisions for states that could not complete the reform process in 2021-22 and 2022-23 by availing the grant allocated for 2023-24.
