Union Cabinet approves Rs1,500 crore infusion into IREDA

New Delhi: The Union Cabinet had approved a Rs.1,500 crore infusion into the Indian Renewable Energy Development Agency Limited (IREDA), Minister Anurag Thakur stated on Wednesday. "Through this, IREDA would be able to finance Rs.12,000 crores to the renewable energy sector," Thakur said.

The cabinet decision will enable IREDA in developing a renewable energy capacity of 3,500 to 4,000 megawatts (MW).  It also approved a scheme enabling borrowers in certain loan accounts to receive an ex-gratia payment of the difference between compound and simple interest for six months. The National Commission for Safai Karamcharis' mandate was also extended for another three years beyond March 31.

The National Commission for Safai Karamcharis (NCSK) was established as a statutory body on August 12, 1994, by an Act of Parliament for a three-year term. According to the Commission's website, the Act's validity was twice extended until February 2004 by Parliament approving amended measures.

The National Commission for Safai Karamcharis Act expired in 2004, and the Commission has been operating as a non-statutory organisation of the Ministry of Social Justice and Empowerment since then. Government Resolutions were used to extend the Commission's term from time to time.

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