Cabinet Decisions: Centre approves Rs 1,500 crore infusion in IREDA to boost renewable energy financing

Cabinet Decisions: The Union Cabinet on Wednesday approved an investment of Rs 1,500 crore in the Indian Renewable Energy Development Agency Limited (IREDA). With this, the landing capacity of IREDA increased to Rs 12,000 crore. Also, the Cabinet has approved the extension of the tenure of the National Commission for Safai Karamcharis till 2025.

The decision was taken at a meeting by the Cabinet Committee on Economic Affairs.

While briefing reporters after the union cabinet meeting, Information and Broadcasting Minister Anurag Thakur said that this decision has been taken in view of RBI's lending norms.

Landing capacity to increase by Rs 12,000 crore
He said that with this investment of Rs 1,500 crore, IREDA will be able to lend Rs 12,000 crore to the renewable sector. This decision of the cabinet will help IREDA to create renewable energy capacity of 3,500 to 4,000 MW.

National Commission for Safai Karamcharis tenure extended
The government also extended the duration of the National Commission for Safai Karmacharis for another three years, till 2025. The decision was taken on Wednesday by the Cabinet Committee, said Union Minister Anurag Thakur.

He said that the Cabinet has approved the extension of the tenure of the National Commission for Safai Karamcharis for three years beyond March 31, 2022.