PERFORMANCE BUDGET 1998-99 - Ministry of Power
PERFORMANCE BUDGET 1998-99 - Ministry of Power
PERFORMANCE BUDGET 1998-99 - Ministry of Power
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11.4.12 Financial Results (based on provisional accounts)- (1<strong>99</strong>7-98)<br />
97<br />
(Rs. in crore)<br />
Pr<strong>of</strong>it Before Tax & Depreciation(Gross Margin) 551.00<br />
Pr<strong>of</strong>it After Tax 481.51<br />
Dividend<br />
Dividend <strong>of</strong> Rs.63 crore has been paid to Govt. <strong>of</strong> India for the year 1<strong>99</strong>6-97.<br />
MOU Performance<br />
Pending finalisation <strong>of</strong> the Accounts, the Corporation provisionally qualifies for<br />
“Excellent” ranking for performance against MOU 1<strong>99</strong>7-98 targets.<br />
11.5 POWERGRID CORPORATION OF INDIA LIMITED (PGCIL):<br />
11.5.1 The <strong>Power</strong> Grid Corporation <strong>of</strong> India Limited (POWERGRID) was incorporated on 23rd<br />
October, 1989 with an Authorised capital <strong>of</strong> Rs.5000 crore, under the Companies Act,<br />
1956. The mission <strong>of</strong> POWERGRID is to establish and operate the Regional and National<br />
Grid to facilitate transfer <strong>of</strong> power within and across the regions with reliability, security and<br />
economy on sound commercial principles.<br />
As per Acts passed by parliament,the transmission systems on NTPC, NHPC, NEEPCO<br />
and NLC were transferred with effect from 01.04.1<strong>99</strong>2 to POWERGRID along with<br />
manpower. After successful completion <strong>of</strong> the first phase <strong>of</strong> POWERGRID’s<br />
establishment and development, comprising taking over the transmission assets <strong>of</strong> all<br />
Central Generating Companies in 1<strong>99</strong>3, POWERGRID has now embarked upon the<br />
second phase <strong>of</strong> its development.In the second phase, RLDCs have also been transferred<br />
to POWERGRID. Now it also operates the Regional Load Despatch Centers and related<br />
integrated operational functions <strong>of</strong> Regional grids. In the third phase, POWERGRID<br />
proposes to create power pools so as to ensure utilisation <strong>of</strong> surplus power in the deficit<br />
regions.<br />
Keeping the pace <strong>of</strong> development <strong>of</strong> the Indian economy and the ever increasing demand<br />
<strong>of</strong> power in view, POWERGRID has drawn up ambitious investment plans to speed up<br />
the progress <strong>of</strong> development <strong>of</strong> Regional and National <strong>Power</strong> Grids.
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