‘Tamil Nadu Generation and Distribution Corporation’s revamp cannot be deferred’
The Hindu
The Tamil Nadu Generation and Distribution Corporation (Tangedco) has created huge liabilities for the long term and a complete restructuring cannot be postponed, the White Paper released by Finance M
The Tamil Nadu Generation and Distribution Corporation (Tangedco) has created huge liabilities for the long term and a complete restructuring cannot be postponed, the White Paper released by Finance Minister Palanivel Thiaga Rajan said. The outstanding debt of Tangedco as on March 31, 2021 is ₹1,24,974.49 crore. Including loans from the State government, the debt stands at ₹1,34,119.94 crore, according to the report. The losses of Tangedco are caused by both high costs and low recoveries. There has been a sustained increase in costs over the last 10 years, it added.
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