<p>Belagavi: The Comptroller and Auditor General of India’s (CAG) report on the Integrated Power Distribution System (IPDS) has pointed out that five electricity supply companies (Escoms) overspent on projects under the scheme and also lost out on central assistance.</p>.<p>The five Escoms are Bescom, Mescom, Cescom, Hescom and Gescom. The funding pattern for the scheme was 60 per cent central assistance, 30 per cent through loans and the remaining 10 per cent from own revenue resources.</p>.<p>A project cost of Rs 1,380 crore was approved for IPDS, of which Rs 828 crore was to be received as a central grant.</p>.CAG finds glaring loopholes in implementation of Pradhan Mantri Kaushal Vikas Yojna.<p>However, the report said the Escoms incurred excess expenditure of Rs 110.9 crore over and above the sanctioned cost in implementing the scheme, with Rs 38.5 crore spent solely on procurement of materials above the guidance value.</p>.<p>“Further, delay in submission of documents for claiming the last tranche of grants resulted in an additional interest burden on borrowed funds to the extent of Rs 5.45 crore. Grants to the tune of Rs 12.8 crore were also foregone by Bescom and Mescom due to delay in finalising tender for feeder metering (by KPTCL), inability to tender and award the work, and non-completion of solar components,” the report stated.</p>
<p>Belagavi: The Comptroller and Auditor General of India’s (CAG) report on the Integrated Power Distribution System (IPDS) has pointed out that five electricity supply companies (Escoms) overspent on projects under the scheme and also lost out on central assistance.</p>.<p>The five Escoms are Bescom, Mescom, Cescom, Hescom and Gescom. The funding pattern for the scheme was 60 per cent central assistance, 30 per cent through loans and the remaining 10 per cent from own revenue resources.</p>.<p>A project cost of Rs 1,380 crore was approved for IPDS, of which Rs 828 crore was to be received as a central grant.</p>.CAG finds glaring loopholes in implementation of Pradhan Mantri Kaushal Vikas Yojna.<p>However, the report said the Escoms incurred excess expenditure of Rs 110.9 crore over and above the sanctioned cost in implementing the scheme, with Rs 38.5 crore spent solely on procurement of materials above the guidance value.</p>.<p>“Further, delay in submission of documents for claiming the last tranche of grants resulted in an additional interest burden on borrowed funds to the extent of Rs 5.45 crore. Grants to the tune of Rs 12.8 crore were also foregone by Bescom and Mescom due to delay in finalising tender for feeder metering (by KPTCL), inability to tender and award the work, and non-completion of solar components,” the report stated.</p>
