Nation Current Affairs 01 Feb 2017 Tangedco to earn pro ...

Tangedco to earn profit in 3 years

DECCAN CHRONICLE.
Published Feb 1, 2017, 6:25 am IST
Updated Feb 1, 2017, 6:26 am IST
Thangamani said the centre’s subsidy of 25 per cent would be used for renovating the electricity infrastructure.
Tangedco logo
 Tangedco logo

Chennai: State Electricity minister P. Thangamani on Tuesday denied that it had agreed to yearly increase of power tariff by joining the UDAY scheme and added that Tangedco’s losses would come down through the scheme and it would become a profitable body in three years.

The minister was reacting to leader of Opposition M.K. Stalin’s charge that the state had joined the scheme after initially objecting to the same by citing various reasons including the condition to hike power tariff every year and financial losses for the state government.

 

He said the centre’s subsidy of 25 per cent would be used for renovating the electricity infrastructure. He asserted that free power would continue for farmers and weavers and smart meters would not be fixed for farmers.

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