OPEN ACCESS. Forecasting Company of the Year & REC Trader of the Year September 2016 Volume - 65
|
|
- Alice Bryan
- 5 years ago
- Views:
Transcription
1 OPEN ACCESS Forecasting the Year & of the Year 20 September 20 Volume - 65
2 CONTENT From Management s Desk The main article this month discusses in detail the Draft Amendment to the 2005 released by the Ministry of Power. The proposed change will have a major impact on the Group captive structures that are used in many states to set up RE projects. REC Trade Results Other notable regulatory updates during the month include our take on the Rise in CSS, APERC and JERC RPO and its compliance regulation, Solar Tariff determination by MPERC, Additional Surcharge determination by GERC. All of these are discussed in detail in the newsletter. The month of September trading saw significant decrease in the demand RPO Table About REConnect for both Solar and Non-Solar RECs as compared to last month. The total transaction value stood at Rs 37.5 Crores in comparison to Rs 52 Crores last month. However, on an year-on-year basis, non-solar RECs demand for the period is up by 67.26% and solar RECs demand is up by 11.42%. As we get into the second half of the year, demand is expected to pick up even further. We hope you will find this volume an insightful read, and as always, look forward to your feedback. -Team Reconnect
3 REConnect Energy : Forecasting Company & REC Facilitator of the year We are very happy to announce that REConnect was awarded of the Year 20 & Forecasting the Year 20 in the n Wind Energy Forum. This is the third year in a row that we have won these awards. We would like to thank our clients for the faith that they bestow on us and the dedicated efforts of the REConnect team for this recognition. The of the Year 20 award is a recognition of our continuing REC market leadership (we are the largest REC trader in the country), faith of our clients in us and the flawless service the REConnect team provides every day. The Forecasting the Year 20 award is recognition of our knowledge-centric approach to forecasting and scheduling, and our market leadership in this domain. We currently provide forecasting and scheduling services to over 12GW of wind and solar projects. We have successfully catered the GETCO state level wind forecasting project for a total capacity of 4086MW. Page 1
4 Draft Amendments to 2005 Analysis - Draft Amendment to 2005 The Ministry of Power (MoP) has proposed changes lower value shares being subscribed by the consumers while the higher value shares being owned by the investor. to the The proposed changes focus on rules relating to Captive Power Plants. More specifically, the changes proposed will impact the structures commonly known as Group Captive projects. Group captive projects are an important way in which renewable energy (RE) capacity is set up (its important to note that the Group Captive structure is also used by conventional power plants). What is the change proposed? At present, a power project is considered captive if The proposed change requires 26% or more ownership of the paid up equity share capital. Thus, equity structures with different face value of shares will no longer be tenable as ownership will have to be 26% or more of the total value of equity capital. However, it appears that the structures where a large majority of the capital is brought in as preference shares are likely to still qualify under the draft rules. This is because the draft refers to equity capital alone, not preference capital or total paid up capital. consuming entity or entities consume at least 51% of the power generated and owns at least 26% of What will be the impact of the change? the equity. Various capital structures have evolved to qualify as captive under the rules. For example, a major portion of the capital could be preference shares, with only a small portion being equity capital. Thus, owning 26% of the equity capital actually translates to a very small amount relative to the overall investment in the project. Further, equity shares of different face values are issues with the Group captive structures are a very important tool used by companies investing in RE capacity. This is because once a project is classified as captive, cross subsidy cannot be made applicable to power generated from it. This important protection to captive projects stems from the Electricity Act and an order of the Supreme Court. Page 2
5 Draft Amendments to 2005 In the current environment where states vary in cross subsidy significantly every year (often with the intent to make open access unviable), such a protection is critical. Without such a protection projects that are build with a life of years face huge uncertainties as PPA s that are viable at present may suddenly become unviable if the state imposes high cross-subsidies. The proposed change will make group captive Many states misuse their power to set cross-subsidy surcharge (CSS) rates and change them drastically every year (please refer to the CSS article below) often making open access unviable. Further, related provision to cross-subsidy like limiting such rates to 20% of the applicable tariff category or progressive reduction over time are not adhered to. The National Tariff Policy also suggested a change in the way CSS is calculated. However, states have not adopted the suggested methodology. structures more difficult as it will require the consumer to put up significantly more equity. This will likely result in less such structures coming up and consequently less investment in RE capacity overall. In this context, making it far more difficult to make group captive structures will result in increasing the risks faced by RE projects. The direct consequence of such a change will be reduction in new investment in Why is the change proposed? the RE capacity. As mentioned in the document of MoP, the rule How soon can the changes be effective? However, we believe that this needs to be looked at in the larger context of the regulatory environment that an RE plant operates in. is being misused by issuing shares of small face value which actually do not represent the monetary are made by notification by the Central share of the capital of the plant (emphasis added) Government (s. 176). This is unlike the Electricity Act or its amendment, which requires the approval of the parliament. As a result, the MoP can modify the rules by notification very quickly after it receives comments and has the opportunity to consider them. Comments are due on the draft rules by November 1, Page 3
6 Cross-subsidy surcharge continues to rise A recent article in Business Standard highlighted the disproportionate rise of cross-subsidy surcharge (CSS) in many states. We have been tracking this issue as well and had highlighted the problem in our blog & NL Volume 62. With increasing cost of power the burden to foot the bill therefore falls on industrial and commercial consumers. As per the MoP data the below graph depicts change in CSS over the span of 1 year in the major states which varies from 35% to 321%. Change in CSS In the past, CSS has been calculated on the basis of 3 the cost of the marginal 5% (in other words the most expensive 5%) of power procured by the state % HA KA This results in a bias towards the highest cost paid, resulting in high CSS. The National tariff policy (NTP) has suggested change in this methodology to % GJ CH AP MP a weighted average cost model, and also proposed 0.5 that CSS be restricted to 20% of the tariff. However, recent increases show that states have largely ig- 0 CSS FY13-14 CSS FY CSS FY 15- nored the provisions of the NTP. A big reason for the rise in CSS is also the fact that states continue to shy away from raising tariffs for Andhra Pradesh Electricity Regulatory Commission (Renewable Power Purchase Obligation and its Compliance) domestic, agricultural and such categories. According to the Business Standard article, like The Ministry of Power (MoP) had recently declared the national RPO trajectory. The order had enlisted the Chhattisgarh, UP, Uttarakhand and Bihar have already come up with their tariff orders for the financial year 20-17, but have not raised retail tariffs. Only Gujarat has allowed a retail tariff increase. yearly RPO trajectory for both non-solar and solar power purchase from till Page 4
7 Following the steps of MoP RPO trajectory, Chhattisgarh, Himachal Pradesh and now Andhra Pradesh has notified its Renewable Power Purchase cure 100% power produced from all the Waste-to- Energy plants in the State, in the ratio of their procurement of power from all sources. Obligation and its Compliance, regulations which RPO % is proposed to increase steeply from will be effective from April 1, % in to 17% in line with the MoP Trajectory. The regulation will be applicable to: The distribution licensee Or any person, consuming electricity procured from conventional sources through open access third party sale. APERC has declared its long term RPO Trajectory with up to 25% till The graph given below gives a comparison between the MoP recent RPO Trajectory and APERC s RPO Trajectory : Every consumer owning a captive generating plant of installed capacity 1 MW and above and synchronized with the Grid % MoP & APERC RPO Trajectory The said obligations will be applicable on total consumption of electricity by an obligated entity, excluding consumption met from hydro electric sources of power % 20.00% 15.00% 11.50% 14.25% 17% 22.50% 19.75% 25.25% APERC RPO Trajec tory Analysis: RPO to be applied on co-generation power while 10.00% 5.00% 0.00% MoP RPO Trajec tory the Consumption from hydro sources to be excluded. The distribution licensees shall compulsorily pro The APERC Regulation can be accessed here. Page 5
8 Gujarat Electricity Regulatory Commission determines Additional Surcharge for Open Access Consumers for the open access transaction commencing from 1st October, 20 to 31th March, The graph below depicts how the addition surcharge has varied over the past: Gujarat Electricity Regulatory Commission (GERC) in its order dated 1 st October 20 has computed the additional surcharge payable by the Open Access Consumers for the control period of 1 st October 20 to 31 st March The order has come as per the GERC Open Access Regulation which states, that additional surcharge shall be determined in every 6 months periods. The GUVNL (Gujarat Urja Vikas Nigam Limited) furnished the data to the commission as per the guidelines defined and proposed an additional surcharge of Rs. 0.44/kWh. The GERC Regulation can be accessed here. The additional surcharge has decreased by Rs. 0.22/ kwh from the previous surcharge. The Additional Joint Electricity Regulatory Commission (Renewable Power Purchase Obligation and its Compliance) Surcharge will be applicable to the consumers of MGVCL, UGVCL, PGVCL and DGVCL, who avail power through open access from any source other than their respective DISCOMs & will be applicable The Joint Electricity Regulatory Commission (Goa and UT s) recently came up with its long term Renewable purchase obligation trajectory & compliance regulation Page 6
9 following the footsteps of states like Chhattisgarh, HP and AP. JERC has declared its RPO Trajectory up to 2022 with total RPO of 17% which lags behind in comparison with MoP RPO Trajectory and of other states. MPERC Determines Tariffs for Solar Power Projects Madhya Pradesh Electricity Regulatory Commission recently released its tariff order for energy procured from solar power based projects for the control period from 31 st March 20 to 31 st Just like other states, the said obligations will be applicable on total consumption of electricity by an obligated entity, excluding consumption met from hydro electric sources of power. The tariff determined by the Commission in this will be applicable to the following Projects located in the State of Madhya Pradesh and selling electricity to the distribution licensees within Madhya Pradesh only:- The graph below gives comparison of MoP RPO Trajectory with JERC RPO Trajectory: (a) Solar PV Power Plants (b) Solar Thermal Power Plants 18.00%.00% 14.00% 12.00% 10.00% 8.00% 6.00% 4.00% 2.00% 0.00% 4.85% 11.50% 6.70% MoP & JERC RPO Trajectory 14.25% 9% 17% 11.50% 14.10% 17% JERC RPO Traject ory MoP RPO Traject ory Sr. No Solar Project Capital Cost (Rs. Crore/MW) Levelised Tariff (Rs/Unit) 1 Solar Thermal 2 Solar PV The Commission came out; vide its proposal for categorization of solar PV and thermal projects as well as for The JERC Regulation can be accessed here. fixing the norms for technological specific parameters. Page 7
10 The graphs below gives a comparison of the Capital cost and levelized tariff from the previous control period: The Commission has fixed the normative capital costs inclusive of all components as well as taxes etc. for solar thermal and solar PV projects by keeping in line with the CERC benchmark capital cost of Rs. 12 Crore and Solar Thermal Capital Cost 5.3crores per MW for Solar Thermal The MPERC Regulation can be accessed here Solar PV Other Regulatory updates of the month can be accessed here. 3 1 Capital Cost (Rs. Crore/MW) Capital Cost (Rs. Crore/MW) Solar PV Levelised Tariff Solar Ther mal 4 Solar PV 2 0 Levelised Tariff (Rs/Unit) Levelised Tariff (Rs/Unit) Page 8
11 s largest REC Trading Company Clickpower.in: s first Green Energy Marketplace Regulatory Updates - September 20 For past trading history - CLICK HERE Non Solar The clearing ratio stood at 1.36% in both IEX and PXIL for Non Solar REC s. A total of 1, 75,525 RECs were traded this month as compared to 2, 58,891 RECs traded in last month, a decrease of 32%. Non Solar Clearing % 4.50% 4.00% 4.01% 3.50% 3.00% 2.50% 2.00% 1.50% 1.00% 1.91% 1.50% 1.61% 1.86% 2.27% 1.36% 1.35% IEX PXIL 0.50% 0.00% Jun- Jul- Aug- Sep- Non Solar RECs ,35,46,470 1,35,78,685 1,34,68,781 1,32,65, Available Issued Redeemed ,51,138 2,35,007 60,055 4,97,148 4,174,26 1,35,406 2,58,891 1,75,525 Jun- Jul- Aug- Sep- For more details please visit our blog-post here. Page 9
12 s largest REC Trading Company Clickpower.in: s first Green Energy Marketplace Regulatory Updates - September 20 For past trading history - CLICK HERE Solar Clearing ratio stood at 0.8 % and 0.98% in IEX and PXIL respectively, with significant decrease of 20% in total demand of Solar RECs as compared to last month. Solar Clearing % Solar RECs 3.50% 3.00% ,519,829 3,525, ,488,773 3,473, % 2.00% 1.50% 1.00% 2.29% 1.24% 1.17% 0.97% 1% 1.40% 0.97% IEX PXIL Available Issued Redeemed 0.50% 0.00% Jun- Jul- Aug- Sep- 0.80% ,757 1,37,615 51,015 37,973 4,203 24,951 39,978 31,724 Jun- Jul- Aug- Sep- The month of September trading saw significant decrease in the demand for both Solar and Non -Solar RECs as compared to last month. The total transaction value stood at 37.5 Crores in comparison to 52 Crores last month. In contradictory to the total demand, this month also huge rise in the total REC issuance where the issuance increased by more than 5 lakhs as compared to the past month s total issuance. This could be attributed due to the impact of CERC s 4th amendment to RECs regulations. The graph on the right is a Y-o-Y graph Y-o-Y Graph % % FY 15- (April to September) FY -17 (April to September) NS REC TRADED S REC TRADED For more details please visit our blog-post here. Page 10
13 s largest REC Trading Company Clickpower.in: s first Green Energy Marketplace REC Project Status - As on 30th June,20 Registered Capacity MW Wind 2213 Bio-fuel Cogeneration 920 All figures in MW Projects Registered Source wise Biomass I 700 Solar PV 588 Small Hydro 291 Projects Registered State wise (MW) Reg. Capacity (MW) 1,085 1, Page 11
14 s largest REC Trading Company Clickpower.in: s first Green Energy Marketplace s RPO Table RPO Obligation (Non Solar) Andhra Pradesh 2.0 % 1.0 % Assam Arunachal Pradesh 6.75 % 6.80 % 0.25 % 0.20 % Bihar 3.25 % 1.25 % Chhattisgarh 7.75% 2.00% Delhi 8.65 % 0.35% Gujarat 8.25 % 1.75 % Haryana 2.75 % 1.00% Himachal Pradesh 8.75% 2.75% J&K 6.50% 1.00 % Jharkhand 3.00 % 1.00 % Karnataka % * 0.75 % * Kerala 4.5% 0.5% Madhya Pradesh 6.50% 1.25 % Maharashtra % 1.00 % Meghalaya Odisha 1.58 % 3.00 % 0.42 % 1.50 % Punjab 4.10% 1.30% Rajasthan Tamil Nadu 8.90 % 9.0 % 2.50% 2.50% Tripura 6.00 % 6.00% Uttarakhand 8.00% 1.5 % Uttar Pradesh 5.00 % 1.00 % West Bengal 4.80 % 0.20 % Goa & UTs 2.80 % 1.15 % Manipur 4.75 % 0.25 % Mizoram % 0.25 % Nagaland 7.75 % 0.25 % RPO Obligation ( Solar) *BESCOM,MESCOM, CESC - 10 % %, HESCOM, GESCOM, Hukkeri Society - 7 % %. Status of Regulation - Final for all states except - Draft for Haryana, Telangana, Tripura, TN, AP, MP and Rajasthan ( Draft Amendments of targets ) RPO on OA Users? - Yes for all states except West Bengal. Karnataka (5.00% RPO) - Yes (> 5MW). RPO on CPP? - Yes for all states except West Bengal. Gujarat, Odisha, Haryana, Bihar, Jharkhand, Tripura, Karnataka (5.00% RPO) - Yes (> 5MW). RPO Penalty? - Yes (REC max ) for all the states. West Bengal - Not Specified. Page 12
15 s largest REC Trading Company Clickpower.in: s first Green Energy Marketplace About REConnect Energy is s leading renewable energy trading company. We provide end-to-end services for projects in the Renewable Energy Certificate mechanism from contract structuring, advisory to monetization of RECs. We also work with power consumers to manage Renewable Purchase Obligation (RPO) liabilities, and develop and execute their energy sourcing strategy. We are a knowledge focused company that prides itself in providing premium services to our clients backed by in-depth research and analysis. REConnect is run by an experienced and professional team. The team consists of members with relevant experience of working at IEX, L&T, JP Morgan, Arthur Andersen and Gensol. Key members of the team are alumnus of IIT Bombay, Columbia University (an Ivy League university). For more details of services provided and profile of the team, please visit our website. Contact Details Bangalore: Vishal Pandya Vishal.Pandya@reconnectenergy.com No. 2, Victor Mansion, 2nd floor, Kodihalli, Old Airport Road, HAL 2nd Stage (PO), Bangalore O : / 84 F : Chennai: Venkat Mutharasu ( ) venkat.mutharasu@reconnectenergy.com # 18/1 (88), 2nd Floor, Aarya Gowda Road, West Mambalam, Chennai New Delhi: Vibhav Nuwal Vibhav.Nuwal@reconnectenergy.com C 503, 5th Floor, Nirvana courtyard, Nirvana Country, Sector 50, Gurgaon O : F : Hyderabad: Rahul ( ) Rahul.tyagi@reconnectenergy.com Mumbai: Ram Kumar ( ) Ramkumar@reconnectenergy.com 1013, 10th Floor, Micro (Haware) Infotech Park, Plot no., Sector-30A, Vashi, Navi Mumbai , Maharashtra,. Solar Market: Vibhav Nuwal Vibhav.Nuwal@reconnectenergy.com Call: W: Renewable Purchase Obligation (RPO): Chetan Singh Adhikari ( ) Chetan.Adhikari@reconnectenergy.com Forecasting and Scheduling (F&S) Siddhartha P. ( ) Siddhartha.priyadarshi@reconnectenergy.com Follow us on: Disclaimer: All the information presented in this newsletter is from publicly available sources. REConnect does not warrant the accuracy and completeness of information available and therefore will not be liable for any loss incurred. The content provided here is for the general informational purposes only. REConnect shall not be responsible for damages resulting from the use of any information in this newsletter. Readers are advised to make appropriate analysis and take appropriate advise before acting on the contents of this newsletter. Page 13
OPEN ACCESS. Wind Facilitator of the Year & REC Facilitator of the Year March 2016 Volume - 60
OPEN ACCESS Wind Facilitator of the Year & REC Facilitator of March 20 Volume - 60 CONTENT From Management s Desk FY 2015- was a very important one for the REC markets the Supreme Court gave its decision
More informationRenewable Energy Certificates: Inches Away From Implementation
Renewable Energy Certificates: Inches Away From Implementation September saw a flurry of legislative activity, including the First Amendment of the Terms & Conditions for REC Recognition and Issuance by
More informationState Government Borrowing: April September 2015
November 5, 2015 Economics State Government Borrowing: April September 2015 State Development Loans (SDL) are debt issued by state governments to fund their fiscal deficit. States in India like the centre,
More informationCENTRAL ELECTRICITY REGULATORY COMMISSION (CERC) 3rd & 4th Floor, Chandralok Building, 36, Janpath, New Delhi : /
CENTRAL ELECTRICITY REGULATORY COMMISSION (CERC) 3rd & 4th Floor, Chandralok Building, 36, Janpath, New Delhi 110 001 : 011-23353503/23752958 Public Notice No. : L-1/94/CERC/2011 Dated: 26 th June, 2015
More information14 th Finance Commission: Review and Outcomes. Economics. February 25, 2015
February 25, 2015 Economics 14 th Finance Commission: Review and Outcomes The 14th Finance Commission (FFC) was constituted on 2nd January, 2013 and submitted its report on 15 th December, 2014. The recommendations
More information9M FY16 Results. Leading Diversified Renewable Energy Generation Company
9M FY16 Results Leading Diversified Renewable Energy Generation Company Disclaimer Certain statements in this presentation concerning our future growth prospects are forward looking statements, which involve
More informationCONTENTS AT A GLANCE DIRECT TAX INDIRECT TAX CORPORATE LAWS
November 2016 / Volume VIII / ASA The key amendments introduced in statutes, policies and procedures in respect of Direct Tax, Indirect Tax, Corporate Laws & Accounting Standards, Foreign Exchange Management
More informationPower Procurement Strategy
Power Procurement Strategy 01.03.16 IIT-Kanpur For Public Use POWER SECTOR OVERVIEW Source: Executive Summary of October 2015, CEA *including renewable generation Installed Capacity (All) Category Installed
More informationThe REC Mechanism Viability of solar projects in India
The REC Mechanism Viability of solar projects in India CONTENTS 1. Overview 01 2. The Renewable Energy Certificate 02 (REC) Mechanism 2.1. Background 02 2.2. Solar RECs 02 2.3. Lessons from the non-solar
More informationAnalysis of State Budgets :
Analysis of State Budgets 2017-18: Emerging Issues policy brief on state finances 2017 Pinaki Chakraborty Manish Gupta Lekha Chakraborty Amandeep Kaur 1 Introduction While the Union Government finances
More informationNote on ICP-CPI Synergies: an Indian Perspective and Experience
2 nd Meeting of the Country Operational Guidelines Task Force March 12, 2018 World Bank, Washington, DC Note on ICP-CPI Synergies: an Indian Perspective and Experience 1. Meaning and Scope 1.1 International
More informationREPORT ON THE WORKING OF THE MATERNITY BENEFIT ACT, 1961 FOR THE YEAR 2010
REPORT ON THE WORKING OF THE MATERNITY BENEFIT ACT, 1961 FOR THE YEAR 2010 1. Scope and Objective 1.1 The Maternity Benefit Act, 1961 extends to the whole of the Indian Union and applies to every factory,
More informationOUTSTANDING GOVERNMENT DEBT
ISIN Security OUTSTANDING GOVERNMENT DEBT TABLE 3: OUTSTANDING GOVERNMENT DEBT (Previous Month) Mod V+ (for V- (for Modified for 100bps for 100 bps Expected price for a 100bps rise in yield due to and
More informationInsolvency Professionals to act as Interim Resolution Professionals or Liquidators (Recommendation) Guidelines, 2018
Insolvency Professionals to act as Interim Resolution Professionals or Liquidators (Recommendation) Guidelines, 2018 Provisions in the Insolvency and Bankruptcy Code, 2016 31 st May, 2018 1. Section 16(3)(a)
More informationSOLAR ENERGY CORPORATION OF INDIA LIMITED DRAFT 1000 MW GRID CONNECTED ROOF TOP SOLAR PV SCHEME FOR GOVERNMENT BUILDINGS UNDER CAPEX AND RESCO MODELS
SOLAR ENERGY CORPORATION OF INDIA LIMITED DRAFT 1000 MW GRID CONNECTED ROOF TOP SOLAR PV SCHEME FOR GOVERNMENT BUILDINGS UNDER CAPEX AND RESCO MODELS 1000 MW GRID CONNECTED ROOF TOP SOLAR PV SYSTEM SCHEME
More informationOUTSTANDING GOVERNMENT DEBT
48 CCIL ISIN Monthly Newsletter d OUTSTANDING GOVERNMENT DEBT TABLE 3: OUTSTANDING GOVERNMENT DEBT Yield Yield (Previous Month) Mod V+ ( V- ( Modified 100bps 100bps Expected price a 100bps rise in yield
More informationPORTFOLIO OPTIMIZATION FOR OPEN ACCESS CONSUMERS/DISCOMS
PORTFOLIO OPTIMIZATION FOR OPEN ACCESS CONSUMERS/DISCOMS By Dr. PARUL MATHURIA POST DOCTORAL FELLOW DEPARTMENT OF INDUSTRIAL AND MANAGEMENT ENGINEERING INDIAN INSTITUTE OF TECHNOLOGY KANPUR 2017 15-05-2017
More informationJOINT STOCK COMPANIES
This section contains statistics relating to joint stock companies which are based on returns received from Registrars of Joint Stock Companies. Tables 25.1 (A) (B) to 25.4 These tables present data regarding
More informationInternational Journal for Research in Applied Science & Engineering Technology (IJRASET) Status of Urban Co-Operative Banks in India
Status of Urban Co-Operative Banks in India Siddhartha S Vishwam 1, Dr. B. S. Chandrashekar 2 1 Research Scholar, DOS in Economics and Co-operation, University of Mysore, Manasagangothri, Mysore 2 Assistant
More informationPost and Telecommunications
Post and Telecommunications This section presents operating and financial data relating to the different branches of the Department of Posts including the Post Office Savings Banks. It comprises statistics
More information1,07,758 cr GoI allocations for Ministry of Rural Development (MoRD) in FY
BUDGET BRIEFS Vol 10/ Issue 9 Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS), GoI, 2017-18 HIGHLIGHTS Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) is a flagship
More informationJune 08, 2017 Ratings
POWER Solar Parks: A new Sunrise? Contact: Sanjay Agarwal Senior Director sanjay.agarwal@careratings.com 91-22- 6754 3582 Rajashree Murkute Associate Director rajashree.murkute@careratings.com 91-22-6754
More information1,14,915 cr GoI allocations for Ministry of Rural Development (MoRD) in FY
BUDGET BRIEFS Vol 1/ Issue 9 Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS), GoI, 218-19 HIGHLIGHTS Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) is a flagship
More informationUjwal Discom Assurance Yojana
Ujwal Discom Assurance Yojana 9 th December, 2017 DFID s Technical Assistance Programme Supporting structural reforms in the Indian Power Sector The UK s Department for International Development (DFID)
More informationMending Power Sector Finances PPP as the Way Forward. Energy Market Forum
Mending Power Sector Finances PPP as the Way Forward Energy Market Forum AF Mercados EMI 11 th February 2011 Structure of the Presentation Current Status of Power Sector Generation Transmission Distribution
More informationSTATE DOMESTIC PRODUCT
CHAPTER 4 STATE DOMESTIC PRODUCT The State Domestic Product (SDP) commonly known as State Income is one of the important indicators to measure the economic development of the State. In the context of planned
More informationGOVERNMENT OF INDIA MINISTRY OF AGRICULTURE AND FARMERS WELFARE DEPARTMENT OF AGRICULTURE, COOPERATION AND FARMERS WELFARE
GOVERNMENT OF INDIA MINISTRY OF AGRICULTURE AND FARMERS WELFARE DEPARTMENT OF AGRICULTURE, COOPERATION AND FARMERS WELFARE 425 SHRI VENKATESH BABU T.G.: SHRI KESHAV PRASAD MAURYA: DR. A. SAMPATH: ADV.
More informationBUDGET BRIEFS Vol 9/Issue 3 Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) GOI, ,07,758 cr
BUDGET BRIEFS Vol 9/Issue 3 Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) GOI, 2017- HIGHLIGHTS 1,07,758 cr Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) is
More informationThe Renewable Energy Policy Dilemma in India: Should Renewable Energy Certificate mechanism compete or merge with the Feed-in-Tariff Scheme?
The Renewable Energy Policy Dilemma in India: Should Renewable Energy Certificate mechanism compete or merge with the Feed-in-Tariff Scheme? Sushanta K Chatterjee (sushanta_chat@yahoo.com) August 2017
More informationINDICATORS DATA SOURCE REMARKS Demographics. Population Census, Registrar General & Census Commissioner, India
Public Disclosure Authorized Technical Demographics Public Disclosure Authorized Population Urban Share Child Sex Ratio Adults Population Census, Registrar General & Census Commissioner, India Population
More informationUDAY Scheme: Perspective and Progress
UDAY Scheme: Perspective and Progress Contact: Madan Sabnavis Chief Economist 91-022-67543489 Darshini Kansara Research Associate Darshini.Kansara@careratings.com 91-022-67543679 Mradul Mishra (Media Contact)
More informationFinancial Results Q3/FY February 2019
Financial Results Q3/FY18-19 08 February 2019 HIGHLIGHTS - DEC 2018 Total Business Total Deposit Gross Advance Operating Profit (Q-3) Rs. 291519 Crore Rs. 177906 Crore Rs.113610 Crore Rs. 381 Crore Basel
More informationDependence of States on Central Transfers: State-wise Analysis
Dependence of States on Central : State-wise Analysis C. Bhujanga Rao and D. K. Srivastava Working Paper No. 2014-137 May 2014 National Institute of Public Finance and Policy New Delhi http://www.nipfp.org.in
More informationGST Update M.S. CHHAJED & CO. GST UPDATE 2/
GST Update 02 2018-19 01st June 2018 FOR PRIVATE CIRCULATION ONLY M.S. CHHAJED & CO. GST UPDATE 2/18-19 1 E-way Bill Now E-way Bill shall be required to be generated for intra-state movement of goods in
More informationUDAY and Power Sector Debt:
UDAY and Power Sector Debt: DISCUSSION paper Assessing Efficiency Parameters and Impact on Public Finance Pinaki Chakraborty Lekha Chakraborty Manish Gupta Amandeep Kaur 1 1. Introduction With the introduction
More information4.4 Building Name 4.5 Block/Sector. 4.8 City 4.9 State Code (Refer to State Code in instructions)
FORM No. 61A [See rule 114E] Annual Information Return under section 285BA of the Income -tax Act, 1961 (PART-A) Please see the instructions and fill up relevant columns 1. Name of the person (in block
More informationForthcoming in Yojana, May Composite Development Index: An Explanatory Note
1. Introduction Forthcoming in Yojana, May 2014 Composite Development Index: An Explanatory Note Bharat Ramaswami Economics & Planning Unit Indian Statistical Institute, Delhi Centre In May 2013, the Government
More informationMAHARASHTRA ELECTRICITY REGULATORY COMMISSION MUMBAI
MAHARASHTRA ELECTRICITY REGULATORY COMMISSION MUMBAI MAHARASHTRA ELECTRICITY REGULATORY COMMISSION (RENEWABLE PURCHASE OBLIGATION, ITS COMPLIANCE AND IMPLEMENTATION OF RENEWABLE ENERGY CERTIFICATE FRAMEWORK)
More informationIntra-state DSM Mechanism: Comparison across States
Intra-state DSM Mechanism: Comparison across States A Three-day Reside tial Course o Power Market a d I pa t of Re ewa les a d Ele tri Vehi les at IIT Ka pur 2 May, 2018 Ajit Pandit Director, Idam Infrastructure
More information2011: Annexure I. Guidelines/Norms for Utilization of Funds for conducting Soeio-Economic and Caste Census
Annexure I I. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. Guidelines/Norms for Utilization of Funds for conducting Soeio-Economic and Caste Census 2011: State wise Number of s may be taken as per population
More informationFinancial Results Q2 & H1 FY November 06, 2015
Financial Results Q2 & H1 FY 2015-16 November 06, 2015 Highest Gainer in Brand Value Brand value rises 72% on accelerated digitalization efforts. 2 Structural Transformation Initiative 3 Performance Highlights
More informationLeading Diversified Renewable Energy Generation Company
Leading Diversified Renewable Energy Generation Company Disclaimer Certain statements in this presentation concerning our future growth prospects areforward looking statements, which involve a number of
More informationFOREWORD. Shri A.B. Chakraborty, Officer-in-charge, and Dr.Goutam Chatterjee, Adviser, provided guidance in bringing out the publication.
FOREWORD The publication, Basic Statistical Returns of Scheduled Commercial Banks in India, provides granular data on a number of key parameters of banks. The information is collected from bank branches
More informationHimachal Pradesh Budget Analysis
-4.9% -3.2% 3.9% 9. 10.4% 7.2% 10.2% 10. 10.8% 7.5% 9.1% 6.9% Himachal Pradesh Budget Analysis The Finance Minister of Himachal Pradesh, Mr. Jai Ram Thakur, presented the Budget for financial year on March
More informationInvestor Presentation Q2 FY November 2017
Investor Presentation Q2 FY 2017-18 November 2017 Disclaimer 2 This presentation is confidential and may not be copied, published, distributed or transmitted. The information in this presentation is being
More informationFARMER SUICIDES. Will the Minister of AGRICULTURE AND FARMERS WELFARE क य ण ½ãâ ããè be pleased to state:
O.I.H. GOVERNMENT OF INDIA MINISTRY OF AGRICULTURE AND FARMERS WELFARE DEPARTMENT OF AGRICULTURE, COOPERATION AND FARMERS WELFARE LOK SABHA UNSTARRED QUESTION NO.3442 TO BE ANSWERED ON THE 6 TH DECEMBER,
More informationROLE OF PRIVATE SECTOR BANKS FOR FINANCIAL INCLUSION
270 ROLE OF PRIVATE SECTOR BANKS FOR FINANCIAL INCLUSION ABSTRACT DR. BIMAL ANJUM*; RAJESHTIWARI** *Professor and Head, Department of Business Administration, RIMT-IET, Mandi Gobindgarh, Punjab. **Assistant
More informationGOVERNMENT OF INDIA MINISTRY OF HOME AFFAIRS LOK SABHA UNSTARRED QUESTION NO. 2557
GOVERNMENT OF INDIA MINISTRY OF HOME AFFAIRS LOK SABHA UNSTARRED QUESTION NO. 2557 TO BE ANSWERED ON THE 01 ST AUGUST, 2017 / SHRAVANA 10, 1939 (SAKA) PENSION TO FREEDOM FIGHTERS 2557. SHRI TAMRADHWAJ
More informationFinancial Results Q1 FY July 28, 2015
Financial Results Q1 FY 2015-16 July 28, 2015 A Step Towards Digitalization 2 Performance Highlights Business Opex Profitability Global Business increased by 8.6% to ` 582817 crore Savings Deposits grew
More informationAnalyzing Data of Pradhan Mantri Jan Dhan Yojana
Technical Report 217 Analyzing Data of Pradhan Mantri Jan Dhan Yojana Tulika Dutta and Ashish Das Department of Mathematics Indian Institute of Technology Bombay Mumbai-476, India May 217 Indian Institute
More information(b) whether the Government has paid insurance claims as compensation for damage of crops due to floods and drought during the current year;
O.I.H. GOVERNMENT OF INDIA MINISTRY OF AGRICULTURE AND FARMERS WELFARE DEPARTMENT OF AGRICULTURE, COOPERATION AND FARMERS WELFARE LOK SABHA UNSTARRED QUESTION NO.2026 TO BE ANSWERED ON THE 14 TH MARCH,
More informationBanking Sector Liberalization in India: Some Disturbing Trends
SPECIAL REPORT Banking Sector Liberalization in India: Some Disturbing Trends Kavaljit Singh In the first week of August 2005, Reserve Bank of India (RBI), country s central bank, issued a list of 391
More informationF. No. 53/15/2016 -WE Ministry of New & Renewable Energy. Evaluation of Generation Based Incentives Scheme for Wind Power Projects
F. No. 53/15/2016 -WE Ministry of New & Renewable Energy Evaluation of Generation Based Incentives Scheme for Wind Power Projects The GBI scheme was initially introduced in 11th Plan on 17.12.2009 with
More informationEXPORT OF GOODS AND SOFTWARE REALISATION AND REPATRIATION OF EXPORT PROCEEDS LIBERALISATION
Corporate Law Alert J. Sagar Associates advocates and solicitors Vol.16 April 30, 2011 RBI EXPORT OF GOODS AND SOFTWARE REALISATION AND REPATRIATION OF EXPORT PROCEEDS LIBERALISATION The Reserve Bank of
More informationPower Purchase Obligation (Compliance by purchase of Renewable Energy/Renewable Energy Certificates) Regulations, 2012 (Regulation No. 1 of 2012).
ANDHRA PRADESH ELECTRICITY REGULATORY COMMISSION RENEWABLE POWER PURCHASE OBLIGATION (COMPLIANCE BY PURCHASE OF RENEWABLE ENERGY/RENEWABLE ENERGY CERTIFICATES) REGULATIONS, 2012 Regulation No. 1 of 2012
More informationThe detailed press note issued by Ministry of Statistics & Programme Implementation is attached herewith for information of the members.
TO ALL MEMBERS: th August Consumer Price Numbers on Base = for Rural, Urban and Combined for the Month of July July Consumer Price (CPI) rose to. % against.% for the month of June. CPI Urban Inflation
More informationREC Market. Business Development March 14
REC Market Business Development Email: info@iexindia.com March 14 In this presentation Renewable Energy in India Introduction to REC Mechanism Market snapshot Voluntary REC Market Trading @ IEX Installed
More informationIssue 06. MFIN micrometer. data as of 30 th June 2013
Issue 06 MFIN micrometer data as of 30 th June 2013 All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means without written permission from MFIN. However,
More informationREConnect Energy Solutions
Ronnect nergy olutions R, nergy fficiency, lectricity ortfolio Management December 2011 Warm Wishes For ew Year 2012 Ronnect emerges as the single largest Rs supplier during December Trade ession. nalysis
More informationCase No. 85 of Coram. Shri Azeez M. Khan, Member Shri Deepak Lad, Member. Maharashtra State Electricity Distribution Co. Ltd.
Before the MAHARASHTRA ELECTRICITY REGULATORY COMMISSION World Trade Centre, Centre No.1, 13th Floor, Cuffe Parade, Mumbai 400005 Tel. 022 22163964/65/69 Fax 22163976 Email: mercindia@merc.gov.in Website:
More informationSarva Shiksha Abhiyan, GOI
Sarva Shiksha Abhiyan, GOI 2012-13 The Sarva Shiksha Abhiyan (SSA) is the Government of India's (GOI) flagship elementary education programme. Launched in 2001, it aims to provide universal primary education
More informationPORTFOLIO MICROMETER. Issue. 14 data as of 30 th June 2015
PORTFOLIO i MICROMETER Issue 14 data as of 30 th June 2015 PORTFOLIO 1 MICROMETER data as of 30 th June 2015 All rights reserved. No part of this publication may be reproduced or transmitted in any form
More informationPOPULATION PROJECTIONS Figures Maps Tables/Statements Notes
8 POPULATION PROJECTIONS Figures Maps Tables/Statements 8 Population projections It is of interest to examine the variation of the Provisional Population Totals of Census 2011 with the figures projected
More informationLeading Diversified Renewable Energy Generation Company
Leading Diversified Renewable Energy Generation Company Disclaimer Certain statements in this presentation concerning our future growth prospects are forward looking statements, which involve a number
More informationGST Concept and Design
GST Concept and Design GST Understanding from the First discussion paper released by the Empowered Committee of State Finance Ministers on November 10, 2009 1 Understanding GST Brief History Need for GST
More informationA Study of Corruption for Issuing Aadharr Card in India by Using Mathematical Modeling
International Refereed Journal of Engineering and Science (IRJES) ISSN (Online) 2319-183X, (Print) 2319-1821 Volume 7, Issue 2 (February 2018), PP. 57-64 A Study of Corruption for Issuing Aadharr Card
More informationGram Panchayat Development Plan(GPDP) Ministry of Panchayati Raj
Gram Panchayat Development Plan(GPDP) Ministry of Panchayati Raj 1 Panchayat Statistics Avg. population per GP National Average population per GP: 3,416 No. of PRIs in the country : 2,56,103 No. of Gram
More information79,686 cr GoI allocations for the Ministry of Human Resource Development (MHRD) in FY
BUDGET BRIEFS Vol 10/ Issue 1 Sarva Shiksha Abhiyan (SSA) GoI, 2017-18 Sarva Shiksha Abhiyan (SSA) is the Government of India s (GoI) flagship elementary education programme. Launched in 2001, it aims
More informationInvestor Presentation
FINANCIAL RESULTS FOR THE QUARTER & NINE-MONTH ENDED DEC 2013 Investor Presentation UCO BANK 1 BANKS OPERATING ENVIRONMENT Positives in Q3: Improving liquidity situation Ebbing stress on cost of funds
More informationComments on proposed amendments in Electricity Rules (with respect to Captive Power Plants) issued by Ministry of Power on 22 nd May 2018
Comments on proposed amendments in Electricity Rules (with respect to Captive Power Plants) issued by Ministry of Power on 22 nd May 2018 S No. Existing provision/ Draft amended proposed Modified proposed
More informationBy : Brijesh Srivastava, Principal Systems Analyst(NIC-DRD)
ग र म ण व क स म त र ऱय भ रत सरक र MINISTRY OF RURAL DEVELOPMENT Government of India DBT in National Social Assistance Programme NIC-Department of Rural Development Krishi Bhawan, MoRD By : Brijesh Srivastava,
More informationADB INDIA PORTFOLIO,
CAPE India, Supplementary Linked Document 1 ADB INDIA PORTFOLIO, 2007 2015 Table 1: Sovereign Loans Loan No. Project Name Amount ($ million) PCR (PVR) Agriculture, Natural Resources, and Rural Development
More informationDelhi Budget Analysis
Delhi Budget Analysis The Minister of Finance of Delhi, Mr. Manish Sisodia, presented the Budget for financial year on March 22, 2018. Budget Highlights The Gross State Domestic Product (GSDP) of Delhi
More informationKarnataka Budget Analysis
-4. 3. 8.9% 7.7% 8.6% 7. 8. 10.3% 14. 19.7% 19.8% 15. 13.4% 13.6% 13.4% 11.8% 11. 11.8% 12. 17.4% Karnataka Budget Analysis The Chief Minister and Finance Minister, Mr. H. D. Kumaraswamy presented the
More informationAnalysis of State Budgets :
Analysis of State Budgets 2017-18: Emerging Issues policy brief on state finances 2017 Pinaki Chakraborty Manish Gupta Lekha Chakraborty Amandeep Kaur 1 Introduction While the Union Government finances
More informationKErala StatE ElECtriCity regulatory CommiSSion (Renewable Energy) Regulations, 2015.
Compendium of Regulations & Orders Issued by Regulatory Commissions for Sources in India 279 KErala StatE ElECtriCity regulatory CommiSSion () Regulations, 2015. Sl. Description No. 1. Title, Extent and
More informationRenewable Energy in India: Getting to Targets
Renewable Energy in India: Getting to Targets Gireesh Shrimali Director, Climate Policy Initiative Fellow, Stanford University BRAZIL CHINA EUROPE INDIA INDONESIA UNITED STATES 235 Montgomery St. 13th
More informationFEE RULES. o Samples/models actual cost; o Postal charges additional; o Inspection of records 1st hour free and Rs 5 for each subsequent 15 mins.
FEE RULES Government Andhra Pradesh Application Fees No fee at village level; Rs 5 at mandal level; Rs 10 for all other public Additional Fees o A4/A3 paper Rs 2 per o Larger paper actual cost; o Priced
More information`6,244 cr GOI allocations for Ministry of Drinking Water and Sanitation(MoDWS) in FY
Accountability Initiative Research and Innovation for Governance Accountability The Swachh Bharat Mission (SBM), previously called the Nirmal Bharat Abhiyan (NBA), is the Government of India s (GOI) flagship
More informationDISCOMs, the weakest link in the Power value chain Can it be strengthened? A reality check
Impact analysis: DISCOMs, the weakest link in the Power value chain Can it be strengthened? A reality check... August 02, 2016 DISCOMs, the weakest link in the Power value chain Can it be strengthened?
More informationCENTRAL ELECTRICITY REGULATORY COMMISSION NEW DELHI. Coram: Shri V. S. Verma, Member Shri M. Deena Dayalan, Member
CENTRAL ELECTRICITY REGULATORY COMMISSION NEW DELHI Coram: Shri V. S. Verma, Member Shri M. Deena Dayalan, Member No. L-1/44/2010-CERC Date of Order: 29.6.2013 In the matter of: Determination of Point
More informationUTTAR PRADESH ELECTRICITY REGULATORY COMMISSION. No. UPERC/Secy/Regulation/ Lucknow : Dated, 17 th August, 2010
UTTAR PRADESH ELECTRICITY REGULATORY COMMISSION No. UPERC/Secy/Regulation/10-787 Lucknow : Dated, 17 th August, 2010 In exercise of powers conferred under sections 61, 66, 86(1)(e) and 181 of the Electricity
More informationPerformance of RRBs Before and after Amalgamation
Performance of RRBs Before and after Amalgamation DR. MINAXI M. JARIWALA Lecturer, Vivekanand College for B.Ed. Gujarat (India) DR. MARTINA R. NORONHA Vice-Principle S.P.B. English Medium College of Commerce
More information... (Please leave one blank box between two words) 2. Permanent Account Number (PAN) of the person (see instructions)
FORM NO. 66 [See rule 114E of income-tax rules, 1962] Annual Information Return under section 285BA of the Income-tax Act, 1961 (PART-A) Please see the instructions and fill up relevant columns Name of
More informationINVESTOR PRESENTATION FINANCIAL YEAR : JUNE Salal Power Station, J&K
Clean Power For Every Home INVESTOR PRESENTATION FINANCIAL YEAR 18-19 : JUNE 2018 Salal Power Station, J&K Presentation Outline 2 NHPC Today Financial Highlights Financial Ratios Other Business Initiatives
More informationFORM L-1-A : Revenue Account. FORM L-1-A : Revenue Account UP TO THE QUARTER ENDED ON JUNE Non Participating (Linked) Total
Insurer : DHFL Pramerica Insurance Company Limited Registration No. 140 ; Date of Registration with the IRDAI: June 27, 2008 Revenue Account For the quarter Ended June 30, 2017 FORM L-1-A : Revenue Account
More informationInvestor Presentation March-2014
Investor Presentation March-2014 1 IMPORTANT NOTICE No representation or warranty, express or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness
More informationUttar Pradesh Budget Analysis
-2. -0.1% -0.9% 2.8% 2.3% 4. 5.5% 5.1% 4.7% 5.8% 4. 6.8% 6.8% 7.1% 7.9% 9. 8. 7. 8. 7. Uttar Pradesh Budget Analysis The Finance Minister of Uttar Pradesh, Mr. Rajesh Agarwal, presented the Budget for
More informationBihar Budget Analysis
-1. -0. 1.6% 4. 6.6% 5. 4.9% 8. 7. 10. 10. 14. Bihar Budget Analysis The Finance Minister of Bihar, Mr. Sushil Kumar Modi, presented the Budget for financial year on February 27, 2018. Budget Highlights
More informationFunding for a Brighter Tomorrow. Power Finance Corporation Limited A Navratna PSU
Power Finance Corporation Limited A Navratna PSU Performance Highlights Quarter/Year Ended (Standalone, Audited) 31 st March, 2017 Realignment with RBI s RRR norms PFC has been following MoP, GoI approved
More informationDebt Market Review: October 2018
Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 Debt Market Review: October 2018 Contact: Kavita Chacko Senior Economist kavita.chacko@careratings.com 91-22-67543687 Dr. Rucha Ranadive Economist rucha.ranadive@careratings.com
More informationBUDGET BRIEFS Volume 9, Issue 4 National Health Mission (NHM) GOI,
BUDGET BRIEFS Volume 9, Issue 4 National Health Mission (NHM) GOI, 217-18 HIGHLIGHTS The National Health Mission is the Government of India s (GOI) largest public health programme. It consists of two sub-missions:
More informationINOX WIND LIMITED Q2FY18 INVESTOR UPDATE
INOX WIND LIMITED Q2FY18 INVESTOR UPDATE DISCLAIMER This presentation and the following discussion may contain forward looking statements by Inox Wind Limited ( IWL or the Company ) that are not historical
More informationFiscal Imbalances and Indebtedness across Indian States: Recent Trends
Fiscal Imbalances and Indebtedness across Indian States: Recent Trends Tapas K. Sen and Santosh K. Dash Working Paper No. 2013-119 February 2013 National Institute of Public Finance and Policy New Delhi
More information06-Oct R E Division, Ministry of Power
06Oct2005 R E Division, Ministry of Power RURAL ELECTRIFICATION WING Arvind Jadhav Joint Secretary Rajeev Sharma Executive Director Vandana Jain Under Secretary Kiran Misra Section Officer 06Oct2005 R.E
More informationM.P. Electricity Regulatory Commission Bhopal
SMP-20/2010 M.P. Electricity Regulatory Commission Bhopal Tariff Order for procurement of power from Wind Electric Generators 1. LEGISLATIVE PROVISIONS 1.1 Section 86(1) (e) of the Electricity Act 2003
More informationTHE JHARKHAND GAZETTE EXTRAORDINARY PUBLISHED BY AUTHORITY
THE JHARKHAND GAZETTE EXTRAORDINARY PUBLISHED BY AUTHORITY No. 419 9 Shrawan, 1932(s) Ranchi, Saturday 31th July, 2010 JHARKHAND STATE ELECTRICITY REGULATORY COMMISSION, RANCHI (RENEWABLE PURCHASE OBLIGATION
More informationSecond Quarter 2018 Ended September 30, 2017 Earnings Presentation
India s first private grid connected MW solar plant India s first distributed rooftop solar project over one megawatt Pan India portfolio of solar assets in 22 States Issued India s first solar Green Bond
More informationEligible students have to contact our branches where they have availed/availing loans.
Eligible students have to contact our branches where they have availed/availing loans. The last date for Banks to submit subsidy claims to Nodal Bank is 31.08.2014. Hence, we advise the students to submit
More informationMicrofinance Industry Penetration in India: A State - wise Analysis in Context of Micro Credit
24 Microfinance Industry Penetration in India: A State - wise Analysis in Context of Micro Credit Laxmi Devi, Assistant Professor, Gargi College, University of Delhi Umed Yadav, Student, Dept. of Commerce,
More information