Cabinet approves infusion of Rs 1500 Cr in Indian Renewable Energy Development Agency Ltd.

The Union Cabinet today approved infusion of one thousand 500 crore rupees in Indian Renewable Energy Development Agency Limited, IREDA. Briefing media in New Delhi, Information and Broadcasting Minister Anurag Thakur said it will enable IREDA to lend 12 thousand crore rupees to the renewable energy sector. He said, this will enhance its net worth which will help it in additional Renewable Energy financing.

The Minister said, it will also improve the capital-to-risk weighted assets ratio to facilitate its lending and borrowing operations. The decision will generate employment over ten thousand jobs every year.

The Cabinet also approved extension of tenure of the National Commission for Safai Karamcharis, NCSK for three years beyond 31st March 2022. The total implication of the extension for three years will be approximately 43.68 crore rupees. The major beneficiaries will be the Safai Karamcharis and identified manual scavengers in the country.

The number of Manual Scavengers identified under the Manual Scavengers Act Survey is over five lakh eight thousand. The NCSK was established in 1993. It has been giving its recommendations to the Government regarding specific programmes for welfare of Safai Karamcharis, study and evaluate the existing welfare programmes for Safai Karamcharis and investigate cases of specific grievances.

The Cabinet has also cleared the Scheme for grant of ex-gratia payment of difference between compound interest and simple interest for six months to borrowers in specified loan accounts. It has approved the payment of ex-gratia amount of over 973 crore rupees pertaining to remaining claims submitted by Lending Institutions under the Scheme. In the context of the COVID-19 pandemic, the Scheme for grant of ex-gratia payment was approved by the Cabinet in October, 2020.