Financial Daily from THE HINDU group of publications
Tuesday, Feb 05, 2002
Financial Daily from THE HINDU group of publications Tuesday, Feb 05, 2002 |
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Agri-Biz & Commodities
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Power Government - States AP to continue power subsidy for farm sector Our Bureau
HYDERABAD, Feb.4 THE Andhra Pradesh Government has no intention of reducing power subsidy to the agricultural sector, according to the State Minister for Energy, Mr K. Subbarayudu. In fact, he said, the State Government had decided to shoulder an additional burden of Rs 800 crore, over and above the committed subsidy of Rs 1,562 crore during the current year. The subsidy amount had to be increased mainly on account of additional power supply to agriculture during the drought spell and current rabi season. At a high level meeting on the progress of `reform process' in the power sector, the Minister said the Government was bent upon achieving a combine annual growth rate of 8.2 per cent in energy sales during 2001-07. It had been targeted to secure an additional revenue of Rs 1,000 crore by improving efficiencies and reducing the losses by 14 per cent during the next five years, the Minister said.
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