CAG pegs hydro power losses at Rs 14,700 crore

New Delhi: In yet another trouble for the government, a new report by the Comptroller and Auditor General (CAG) has exposed the rot in the power sector, reports CNN IBN. According to the CAG, the inefficiency of the National Hydroelectric Power Corporation (NHPC) has meant only two of 16 planned projects have been completed.

The CAG report has said that the cost overruns have led to losses Rs 14,700 crore, adding that 10-year target of 11,813 mw was missed while only 1550 mw was added. It further says that the country is currently short of 17,000 mw of power.

 CAG pegs hydro power losses at Rs 14,700 crore

Pic courtesy IBNLive.

Had the project been completed on time, 70 per cent of India's power shortfall would have been met.

The latest report has said that the NHPC and the Power Ministry caused a loss of 10,000 mw of power by not following procedure and trying to help private companies, reported CNN IBN.

Notably, more than half of India went without power for two consecutive days in July and August as power grids in the north and east tripped on excess demand, said CNN IBN.

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Updated Date: Sep 06, 2012 22:35:39 IST