NEW DELHI : To support India’s transition period towards the next generation power sector reform’ pathway; the union power ministry on Friday requested the 15th Finance Commission (FFC) for the need for a recalibration of borrowing limits for states under the Fiscal Responsibility and Budget Management Act (FRBM).
In addition, the power ministry headed by Raj Kumar Singh also sought a support of Rs3 trillion over a five year period, as the FFC prescribes a new debt and fiscal consolidation road map for both the centre and states for five years beginning 1 April, 2021.
The FFC has submitted its first report to the government for 2020-21 period. It has got an extension till 30 October to submit its final report covering financial years