Tamil Nadu approves guarantee and budgetary support for liquidity loans

The Tamil Nadu government has issued administrative orders for unconditional and irrevocable government guarantee and commitment letters from finance department for financial assistance of Rs 302.30 billion for loan proposed to be availed from Power Finance Corporation (PFC) Limited and REC Limited under Atma Nirbhar Bharat liquidity infusion scheme.

This is the biggest loan application by a state, about a-fourth of the Centre’s Rs 1,200 billion liquidity infusion scheme, to settle power bills of discoms o gencos. Meanwhile, Maharashtra has availed an additional Rs 93.10 billion under the scheme. This is over and above Rs 50 billion the state took earlier under the same scheme. The total sanctions under the scheme stand at Rs 1,134.80 billion and disbursements stand at Rs 311.35 billion so far.

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