Centre changed policy to ensure Bihar's power plant project goes to a particular firm: Pawan Khera
Patna (PTI): The Congress on Friday accused the Centre of changing its SHAKTI policy to ensure that a power plant project in Bihar's Bhagalpur district goes to a particular private firm close to Prime Minister Narendra Modi.
The solar power project was converted into a thermal project, and the group has been given 1,050 acres of land at the rate of Re one per acre, chairman of the party's Media & Publicity wing, Pawan Khera, claimed in a press conference here.
"Senior BJP leader RK Singh, who served as a minister in the Modi government for 10 years, is saying the project is a scam worth Rs 62,000 crore. According to him, the firm will earn Rs 25,000 crore every year from this project," Khera said.
"Changes were made to the SHAKTI policy to ensure that the power project plant in Bhagalpur's Pirpainti goes to a particular firm. These changes were made directly at the level of the Prime Minister, Narendra Modi," Khera alleged.
The SHAKTI (Scheme for Harnessing and Allocating Koyala Transparently in India) policy of 2017, formulated to transparently allocate coal to the power sector, was revised earlier this year to provide "greater flexibility, wider eligibility and better accessibility to coal", according to PIB release of July 28.
"We are also asking from the Central government: why did the Ministry of Energy of the Government of India revise the Bihar government's feasibility report to convert a solar project into a thermal project just to favour a particular group close to the PM," Khera said.
Won't this change have a negative impact on Bihar's Renewable Purchase Obligation, he asked.
The Congress leader also wondered why, despite the absence of coal linkage, was a thermal power plant under Tariff Based Competitive Bidding (TBCB) given under the provisions of SHAKTI policy.
He asked if issuing a tender without finalising details is not violation of rules.
Besides, Khera said, when this project was to be given to a private firm, why a budget of Rs 21,000 crore was allocated for it in the central budget.
He alleged that the tender for the thermal project was issued without approval of the use Ganga river water, and the Bihar government spent Rs 58 crore on this project before it was floated.
Besides, no Environmental Impact Assessment (EIA) and cost-benefit analysis were conducted for this project, he claimed.
Despite opposition of the several engineers and experts for the Pirpainti project, it was handed over to the favoured group, the Congress leader said.
The group has been given 1,050 acres of land at the rate of one rupee per acre, he said.
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Rupee falls 9 paise to all-time low of 90.58 against US dollar in early trade
Mumbai (PTI): Rupee depreciated 9 paise to an all-time low of 90.58 against US dollar in early trade on Monday, weighed down by uncertainty over an India-US trade deal and persistent foreign fund outflows.
Forex traders said rupee is trading with a negative bias as investors are in wait and watch mode and awaiting cues from the India-US trade deal front.
At the interbank foreign exchange market, the rupee opened at 90.53 against the US dollar, then fell further to an all-time intraday low of 90.58 against the greenback, registering a fall of 9 paise over its previous close.
On Friday, the rupee had slipped 17 paise to close at an all-time low of 90.49 against the American currency.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.05 per cent lower at 98.35.
Brent crude, the global oil benchmark, was trading higher by 0.52 per cent at USD 61.44 per barrel in futures trade.
On the domestic equity market front, the 30-share benchmark index Sensex was trading 298.86 points lower at 84,968.80, while the Nifty was down 121.40 points at 25,925.55.
Foreign Institutional Investors sold equities worth Rs 1,114.22 crore on Friday, according to exchange data.
"FPIs continue to be in selling mode in equity and debt while RBI has been selling dollars to fund their long positions," said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP.
