Odisha govt to provide guarantee for Rs 2,600 cr bank loans to GRIDCO

Bhubaneswar: The Odisha Cabinet today approved a proposal to provide the government guarantee for Rs 2,600 crore loans to GRIDCO during the 2020-21 financial year. The government guarantee will enable GRIDCO to get about two percent interest concession from banks.

Chief Secretary Asit Tripathy said the Cabinet decision on GRIDCO will reduce the electricity supplier’s financial cost and in turn the retail tariff for industries, MSMEs and general consumers will be lower

The Cabinet meeting also approved the turnkey tender of NCC Limited amounting to Rs 461.25 crore for construction of Jagannath Ballav Pilgrim Centre, market complex and Shree Setu along with extension of Musa river at Puri under Augmentation of Basic Amenities and Development of Heritage and Architecture (ABADHA) Scheme. The work will be completed within a period of 30 months.

It was also decided in the meeting to alienate government land and acquired/purchase land for ‘Heritage Security Corridor around Shri Jagannath Temple, Puri’ in favour of Shri Jagannath Temple Managing Committee, Puri on free of premium, incidental charges, annual ground rent and cess and to correct the Record of Rights in the name of Lord Shri Jagannath.

The State cabinet meeting decided to accept the recommendation of the State Law Commission of Odisha and take steps for enactment of the Odisha Appropriation Act (Repeal) Act, 2020 which will repeal 215 numbers of Appropriation Acts.

The State Cabinet meeting chaired by Chief Minister Naveen Patnaik approved a total of 18 proposals.