The increase in outlay for individual power public sector undertakings (PSUs) has been marginal, even though the government has committed a Rs 2400-crore increase to power PSUs as a whole for the year 1998-99.
From the figures available in the interim budget presented by Union finance minister Yashwant Sinha yesterday, four PSUs National Thermal Power Corporation (NTPC), Power Grid Corporation (PGC), Power Finance Corporation(PFC) and National Hydro Power Corporation (NHPC) have been allocated 80 per cent of the resources earmarked for all the power PSUs.
Even though in actual terms the increase is placed at Rs 2400 crore, in percentage terms, the increase in the budgeted amount to individual PSUs as compared with the revised estimate figures of the previous year shows the increase is not significant.
While the allocation to PGC has increased by 3.5 per cent, NTPC has got an increase of only 1.63 per cent while there is a 1.6 per cent drop in the allocation to National Hydro Power Corporation over the revised estimate figures of last year.
There is a similar drop in allocation to the Damodar Valley Corporation (DVC), the Nathpa Jhakri Power Corporation (NJPC) and the Tehri Development Corporation.
Out of the nine power PSUs, PGC and NTPC have got more than fifty per cent of the allocation for the year 1998-1999, with the break-up showing a 28 per cent and 26 per cent allocation for the two PSUs, respectively. Out of the balance, National Hydro Power Corporation and PFC have been allocated 25 per cent of the resources.
In comparison to this years budget estimates, National Thermal Power Corporation last year was allocated 31 per cent of total budget outlay, followed by PGC, which was allocated 23 per cent.
Even though the allocation to PGC as percentage of the total outlay has increased this year as compared with last years figures, there has been a 5 per cent decrease in National Thermal Power Corporations budgeted outlay.
National Hydro Power Corporation has, however, been compensated by a Rs 245 crore increase in equity, while NTPCs and NJPCs equity component has increased by Rs 76 crore and Rs 85 crore respectively.
