Finance Minister Arun Jaitley said that state power distribution companies (discoms) should charge appropriately for the power supply.
Addressing Indian Banks’ Association’s AGM FM said, the RBI has issued notices to the state government, and If they don’t charge users for the power services they won’t get any financial aid from banks.
The minister added that inspite of the improved distribution network of power supply in the country through the State Electricity Boards (SEBs), only some states have been reformed.
About the meeting held with the PM Narendra Modi, FM said that they have worked out some important reforms for states discoms.In order to sort the distress discoms in a year or two he advised to follow the Power ministry’s suggestion.
He also said, those who want to fall outside this reform process will then have to suffer at their own policy level.
The FM is assured to maintain fiscal deficit at 3.9 in the present FY.
Jaitley said that he is solemn to boost the GDP growth rate from 7.3 in last FY.
The targets for the next three years have been set at 3.9 percent for 2015-16, 3.5 percent for 2016-17, and 3.0 percent for 2017-18.
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