Odisha demands Rs 3,069 crore from Centre under RDSS
Bhubaneswar, Jul 29 (PTI) The Odisha government on Tuesday urged the Centre for early sanction of Rs 3,069 crore under the Revamped Distribution Sector Scheme (RDSS).
Deputy Chief Minister K V Singh Deo has raised this demand before Union Power Minister Manohar Lal during his meeting in New Delhi, an official statement said.
The Centre had launched the RDSS with an aim to reduce the aggregate technical and commercial (AT&C) losses to pan-India levels.
Under the scheme, financial assistance to power distribution companies is provided for upgradation of the distribution infrastructure and for prepaid smart consumer metering and system metering based on meeting pre-qualifying criteria and achieving basic minimum benchmark in reforms, officials said.
As Odisha frequently faces natural disasters like cyclones and floods, the Coalition for Disaster Resilient Infrastructure (CDRI) has proposed the creation of disaster-resilient power infrastructure with selective underground cabling, especially 30 km from the coastline, the statement said.
Therefore, Odisha urgently needs central financial assistance for disaster-resilient power infrastructure, Singh Deo said.
Considering the rising demand for power, he urged Lal for the allocation of 800 megawatt (MW) power from NLC Talabira Phase-II project in addition to the 400 MW already allocated in Phase-I to Odisha. It would bring the total share to 1,200 MW from 3,200 MW total project capacity, the statement said. PTI BBM BBM RG
view comments
First Published:
July 29, 2025, 20:15 IST
Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
23 minutes ago
- Economic Times
M&B Engineering IPO sails through on Day 2: Check GMP, price band, and other key details
The price band for the IPO is set at Rs 366–385 per share. At the upper end, M&B Engineering's market capitalisation is estimated at approximately Rs 2,200 crore. M&B Engineering's IPO saw strong demand, fully subscribed by Day 2 with an overall subscription of 110%. Retail investors showed significant interest, subscribing 4.18 times their quota. The IPO price is set at Rs 366–385 per share, with proceeds aimed at capital expenditure and debt repayment. Brokerages are positive, citing the company's strong fundamentals and growth potential. Tired of too many ads? Remove Ads Use of Proceeds Tired of too many ads? Remove Ads Company Details Should You Subscribe? The initial public offering (IPO) of M&B Engineering was fully subscribed by Day 2 of bidding, with an overall subscription of 110% as of 11:15 am on IPO received bids for 1.08 crore shares against 97.98 lakh shares on offer. Retail investors subscribed 4.18 times their quota, while non-institutional investors (NIIs) subscribed 1.22 times. Qualified institutional buyers (QIBs) were yet to price band for the IPO is set at Rs 366–385 per share. At the upper end, the company's market capitalisation is estimated at approximately Rs 2,200 the grey market, M&B Engineering shares were quoting at a premium of Rs 54–55, implying a listing gain of about 16% over the issue net proceeds will be utilised for capital expenditure, debt repayment, and technology upgrades at the company's manufacturing units in Sanand and Cheyyar.M&B Engineering is one of the largest players in the pre-engineered buildings (PEB) and self-supported steel roofing segments, with over 9,500 completed projects and exports to 22 client portfolio includes the Adani Group, Tata Advanced Systems, and Alembic Pharma . As of June 30, its order book stood at over ₹840 crore. The company provides end-to-end project solutions including design, fabrication, and FY25, the company reported revenue of Rs 988 crore and a net profit of Rs 77 crore, with an EPS of Rs 13.5. The IPO is priced at a P/E of 28.5x based on FY25 are positive on the company's fundamentals but note that the issue appears fully priced. Anand Rathi has rated the IPO as 'Subscribe for Long Term,' citing M&B's integrated manufacturing setup, economies of scale, and export momentum, particularly in the U.S. Capital and DAM Capital Advisors are the book-running lead IPO includes a fresh issue of equity shares worth Rs 275 crore and an offer for sale (OFS) of Rs 375 crore by the promoters.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Hindustan Times
23 minutes ago
- Hindustan Times
Donald Trump announces plans to develop Pakistan's 'massive oil reserves'
US President Donald Trump announced a fresh agreement with Pakistan on Thursday with Washington pledging to support the development of 'massive oil reserves'. Trump also said that Pakistan could sell oil to India in the future in a post on Truth Social, his social media platform. Trump's announcement came on the same day that Pakistan and the United States concluded a trade deal. (PTI photo) 'We have just concluded a Deal with the Country of Pakistan, whereby Pakistan and the United States will work together on developing their massive Oil Reserves. We are in the process of choosing the Oil Company that will lead this Partnership. Who knows, maybe they'll be selling Oil to India some day!' Trump posted on Wednesday. According to the US Central Intelligence Agency's estimates, Pakistan has proven oil reserves of over 332 million barrels. This gives Islamabad the 52nd largest oil reserves in the world, behind Turkey and ahead of Trinidad and Tobago. India, with proven oil reserves of 4.5 billion barrels of oil, ranks 23rd on that same list. So far, the United States has remained a fairly marginal player in Pakistan's economy. According to the State Bank of Pakistan, FDI flows into Pakistan from America came up to just $29 million in the first quarter of FY2025. China, by contrast, accounted for most of the FDI flows into Pakistan with investments valued at $404 million in the same quarter. Trump's announcement came on the same day that Pakistan and the United States concluded a trade deal. Pakistan's finance minister Muhammad Aurangzeb met with US Trade Representative Jamieson Greer and US Commerce Secretary Howard Lutnick in Washington on Wednesday. Pakistan faced a 29% tariff on exports to the United States starting on August 1 in the absence of a trade deal. However, Pakistan's new tariff rate arrived at due to the agreement is as yet unknown. On Wednesday, Trump announced that India will face a 25% tariff on all exports to America plus an unspecified additional penalty for purchasing Russian energy, dealing a setback to negotiations just days before an August 1 deadline for additional levies that New Delhi has been attempting to stave off. The move, which some US officials described as a negotiating tactic, could, if the tariffs last, put India at a disadvantage when compared to Asian countries such as Indonesia and Vietnam.
India Today
23 minutes ago
- India Today
Trump's 25% tariffs: Which sectors are at most risk?
Despite multiple rounds of talks, and Trump calling India a 'friend', the label of 'tariff king' seems to have stuck harder and several Indian industries could be left footing the seems to be preparing for a tough few weeks after US President Donald Trump announced a 25% tariff on Indian exports starting August additional penalty was also announced for India's continued oil purchases from Russia, which has added more uncertainty for The US has been calling for a fairer deal, often criticising India for high tariffs and trade restrictions. In a post on the Truth Social platform, Trump said India has 'the most strenuous and obnoxious non-monetary Trade Barriers of any Country.' The tariff rate, he said, is also among the highest in the and the US have been in trade talks for months. Despite India being one of the first countries to respond to the US outreach, the two sides failed to reach a deal. India expected better treatment, especially after Prime Minister Narendra Modi's high-profile US visit earlier this the decision to slap tariffs similar to or higher than those imposed on other Asian nations like Vietnam (20%) and Indonesia (19%) has come as a to Bloomberg, calculations show that nearly 10% of India's total exports to the US could be impacted between July and September if the tariffs stay at 25%. The India-US two-way trade was worth about $129.2 billion in Bathini, Director – Equity Strategy at WealthMills Securities, said the final draft of the US tariff move will decide which sectors get hit the hardest. But as of now, the sectors to watch are 'gems and jewellery, aqua exports, and some segments of auto components.'GEMS AND JEWELLERY SECTOR UNDER STRESSOne of the biggest industries facing immediate pressure is the gems and jewellery sector. The US is a key market, accounting for over Rs 83,000 crore (approx $10 billion) of India's jewellery exports. A 25% tariff could inflate costs, delay shipments, and disrupt Gem and Jewellery Export Promotion Council said the sector is staring at major a statement released late Wednesday, the council said the tariff move could 'threaten thousands of livelihoods' and 'disrupt critical supply chains.' The group added that costs would rise across the value chain, from workers to manufacturers, if the tariffs are not rolled back COMPANIES MAY LOSE COMPETITIVE EDGEIndia is the largest supplier of generic medicines to the US, exporting non-patented drugs worth roughly Rs 66,800 crore ($8 billion) annually. Companies like Sun Pharmaceutical Industries, Cipla, and Dr. Reddy's Laboratories earn nearly 30% of their revenue from the US Mariwala, Executive Chairman and MD of OmniActive Health Technologies, said that India isn't just a key supplier of generics to the US; we are a part of the backbone of affordable global healthcare."These duties may interrupt the smooth trade flow, inflate US drug costs, stall treatments, and put even greater pressure on American healthcare budgets. Back home, the profits for Indian pharmaceutical firms may decline, and R&D may stagnate, slowing down innovation and stalling new drug clearances," he from IQVIA, mentioned in a Bloomberg report, shows that four out of ten prescriptions filled in the US in 2022 were sourced from Indian companies. Indian generics helped save nearly Rs 18.3 lakh crore ($220 billion) in US healthcare costs in 2022 alone. A 25% tariff could damage this cost advantage and make Indian pharma less AND APPAREL INDUSTRY HIT BY DUTY GAPThe textile and apparel industry is another major exporter to the US, supplying everything from home linens to footwear. Indian suppliers work with brands such as Walmart, Gap, and Confederation of Indian Textile Industry said in a statement that the higher tariffs could create a 'stiff challenge' for the industry. It added that India will lose the competitive edge it had been hoping for over countries like Vietnam, which now face lower Textiles, in its recent earnings call, flagged slow business from the US due to tariff worries. Companies like Welspun Living, Indo Count, and Arvind Fashions may also see a decline in orders if prices rise due to the new EXPORT PLANS MAY SUFFERIndia recently overtook China as the top source of smartphones sold in the US, thanks to Apple's decision to assemble more iPhones in India. However, this success could be Rana and Andrew Girard, analysts at Bloomberg Intelligence, said in a note that Apple's shift to India might be 'set back' if the full 25% tariff is applied. 'A 25% surcharge would most likely force Apple to revise this plan,' they wrote, noting that India's electronics exports could face new IMPORTS FROM RUSSIA MAY BRING MORE PENALTIESAlongside the tariffs, Trump also warned of an additional penalty due to India's energy imports from Russia. India now gets around 37% of its oil from Russia at discounted rates, which has helped maintain strong profit margins for like Reliance Industries, Indian Oil Corp, Bharat Petroleum, and Hindustan Petroleum may suffer if these imports are restricted or taxed further. Reliance, for example, had signed a deal to buy up to 500,000 barrels of Russian oil per day this year, making it India's largest buyer of Russian access to cheap Russian oil is limited, Indian refiners may be forced to buy from costlier suppliers, which would lower their profit margins and increase fuel prices at MAY ADJUST OVER TIMEDespite the near-term pain, some experts believe the long-term impact could be Palviya, SVP – Research at Axis Securities, said the tariffs will hurt in the short run, but may not change India's growth story. 'It is improbable that it will significantly alter the country's long-term growth path,' he added that India's domestic market, entrepreneurial drive, and global partnerships remain strong. He believes both countries will eventually realise the need for a more balanced trade relationship, which could lead to softer tariff rules in the Trump's return, the change in trade tone has been clear. It's a wake-up call—India must double down on securing Free Trade Agreements with other major economies," said Mariwala."These aren't just about market access; they're about securing India's place in the world economy and advancing the vision of Viksit Bharat," he added.- EndsMust Watch
