office memorandum

Andhra Pradesh: Centre to fund Polavaram project as per the latest price levels

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Andhra Pradesh: Centre to fund Polavaram project as per the latest price levels

Apart from sanctioning ₹12,911 crore for completion of the Polavaram irrigation project, the Union government has promised the Government of Andhra Pradesh to remove certain restrictions on payments, consider the latest price levels, and extend financial assistance for the damages caused due to unexpected flooding in the Godavari.  “There are three major points in the … Read more

PSUs asked to issue LoCs based on their financial strength

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PSUs asked to issue LoCs based on their financial strength

The Finance Ministry has asked central public sector undertakings (CPSUs) to issue letters of comfort (LoCs) on the basis of their own financial strength so that no liability devolves on the Government of India. The Office Memorandum dated March 20, 2023, has been issued following a request from some CPSUs in the oil and power … Read more