Economy
Cabinet approves land swap between Mumbai airport, civic body
New Delhi : The central government on Wednesday approved a land swap agreement between Mumbai International Airport (MIAL) and Municipal Corporation of Greater Mumbai (MCGM).
 
The decision was taken by the union cabinet which met here under the chairmanship of the Prime Minister Narendra Modi.
 
MIAL manages and operates the Chatrapati Shivaji International Airport (CSIA) at Mumbai.
 
"The Union Cabinet has given its approval for swapping of Airports Authority of India's (AAI) land, out of land demised to MIAL at CSIA, measuring 2,960.90 sqm. with equivalent land of MCGM for relocation of Cemetery," the cabinet said in a statement. 
 
According to the cabinet, swapping of the land with MCGM will enable MIAL to complete the development work of the Chatrapati Shivaji International Airport, Mumbai. 
 
"Shifting of the cemetery to new location will result in its operationalisation," the statement elaborated.
 
"Since both the AAI land and the private land proposed to be swapped are of the same size and are adjacent to each other as also the circle rate of the land is same, there is no financial implication on the government."
 
The statement added that the cost on account of mutation of the alternate land after the swap will be borne by MIAL. 
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Cabinet gives nod to new power tariff policy
New Delhi : The union cabinet on Wednesday approved a new power tariff policy designed to promote clean energy, better regulation of distribution companies (discoms), and ease of the process of doing business in the sector.
 
"For the first time, a holistic view of the power sector has been taken and comprehensive amendments have been made in the tariff policy 2006," Power Minister Piyush Goyal told reporters.
 
"The amendments are also aimed at achieving the objectives of Uday (Ujwal Discom Assurance Yojana) with a focus on 4 Es... electricity for all, efficiency to ensure affordable tariffs, environment, and ease of doing business to attract investments to the sector and ensure financial viability," he said.
 
The new policy also proposes to strengthen the regulatory mechanism so that discoms become more efficient in serving their consumers.
 
Highlighting India's international obligations towards reversing climate change under the COP 21 declarations, Goyal said the new tariff policy seeks to boost renewable energy generation.
 
"In order to promote renewable energy and energy security, 8 percent of electricity consumption excluding hydro power, shall be from solar energy by March 2022, as part of the revised Renewable Purchase Obligation (RPO)," the minister said.
 
"We have also introduced a Renewable Generation Obligation, whereby new thermal plants have to have a renewable component to their generation," he added.
 
Goyal said the new tariff policy had special provisions to promote the philosophy of "waste-to-wealth".
 
"To release clean drinking water for cities and reduce pollution of rivers, thermal plants within a 50 km of radius of sewage treatment facilities will use treated sewage water," Goyal said, adding that Nagpur municipality, in his home state of Maharashtra, is already implementing such a project.
 
The new policy will also allow distribution companies to buy any quantum of power produced from waste.
 
For the promotion of hydro projects, Goyal said these will be allowed to charge tariffs on a cost-plus basis through long term power purchase agreements (PPAs), and will be exempt from competitive bidding till August 15, 2022.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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COMMENTS

Siva Kumar Dattu

1 year ago

first it should be affordable

Cabinet nod for subsidy to set up 5,000 MW solar projects
New Delhi : A union cabinet panel on Wednesday approved the setting up of over 5,000 MW of grid-connected solar photovoltaic (PV) power projects at an estimated outlay of Rs.30,000 crore.
 
Briefing reporters here following the meeting of the Cabinet Committee on Economic Affairs (CCEA), Power and New and Renewable Energy Minister Piyush Goyal said the decision to promote solar power through "viability gap funding" (VGF) was in line with Prime Minister Narendra Modi's promise to make India the world's largest generator of solar power.
 
"Installation of 5,000 MW solar PV plants will generate about 8,300 million units per year, which caters power to almost 2.5 million households," said a release from the ministry of new and renewable energy.
 
According to the statement, the estimated requirement of funds to provide VGF for 5,000 MW capacity solar projects is estimated to be Rs.5,050 crore.
 
This includes handling charges to state-run Solar Energy Corp. at the rate of 1 percent of the total grant disposed and Rs.500 crore for the payment of security mechanism for the VGF schemes.
 
"These projects will have a market-found base rate, and thereafter reverse bidding will determine who wins the VGF. Actual funding will be determined by reverse bidding," Goyal said.
 
The government has set a target of achieving 1,00,000 MW grid-connected solar power by 2022.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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