REC Ltd., a Navratna Public Sector Undertaking, has been playing a pivotal role in the growth of power sector with special emphasis in the area of rural electrification. REC was incorporated in July 1969 with the main objective of financing rural electrification schemes. The schemes were historically aimed at improving the supply of electricity in rural areas and the energisation of agricultural pump sets.
Over the years, the mandate of REC has evolved in accordance with the development priorities of the GoI, with the result that REC now finances all segments of power sector throughout the country and has emerged as one of the leading public financial institutions in the Indian power infrastructure space.
REC's principal products are long term loans and short term loans backed by securities in the form of State Government guarantees, mortgage of land, hypothecation of assets etc. REC borrowers include State Sector Power Utilities/SEBs, Central Sector, Joint Sector and Private Sector Power Utilities. REC now competes favourably with all the financial institutions and leverages it pan-India network of 22 project offices for development and conduct of business. REC has been accorded highest safety ratings by CRISIL, FITCH, and CARE. On an international basis, it holds long-term borrowing ratings of and from Fitch and Moody, respectively, which are on par with sovereign ratings for India.
DEENDAYAL UPADHYAYA GRAM JYOTI YOJANA (DDUGJY)
Govt. of India has launched Deendayal Upadhyaya Gram Jyoti Yojana (DDUGJY) for the rural areas with the following components:
(i) Separation of agriculture and non-agriculture feeders facilitating judicious rostering of supply to agricultural & non- agricultural consumers in the rural areas;
(ii) Strengthening and augmentation of sub-transmission & distribution (ST&D) infrastructure in rural areas, including metering at distribution transformers, feeders and consumers end;
(iii) Rural electrification, as per CCEA approval dated 01.08.2013 for completion of the targets laid down under RGGVY for 12th and 13th Plans by subsuming RGGVY in DDUGJY and carrying forward the approved outlay for RGGVY to DDUGJY
The approval has been accorded for components (i) and (ii) above having scheme cost of Rs. 43033 crore including a budgetary support of Rs. 33453 crore from Government of India during the entire implementation period (balance period of 12th & 13th Plan).
The existing programme of Rajiv Gandhi Grameen Vidyutikaran Yojana (RGGVY) as approved by CCEA for continuation in 12th and 13th Plans will get subsumed in this scheme as a separate rural electrification component [component (iii) above] for which CCEA has already approved the scheme cost of Rs. 39275 crore including a budgetary support of Rs. 35447 crore. This outlay will be carried forward to the new scheme of DDUGJY in addition to the outlay indicated in above.
Guidelines issued vide Office Memorandum F.No. 44/44/2014-RE dated 3 rd December 2014 issued by the Ministry of Power in respect of Deendayal Upadhyaya Gram Jyoti Yojana (DDUGJY) shall be applicable for the components (i) & (ii) above of the scheme viz. feeder separation and augmentation of distribution infrastructure including metering in rural areas and any new project sanctioned under Rural Electrification component. The existing operational Guidelines/ Standard documents/ procedures of RGGVY shall continue to prevail for implementation of already sanctioned RE projects.
For more details about DDUGJY, please log on to http://www.ddugjy.gov.in/