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Electricity act 2003 Amendment | 47th Current affair Class | IAS 2019

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The draft amendments to the Electricity Act, 2003 is finally out and it aims to keep at pace with the changing market dynamics, increasing renewable capacity and challenge of providing quality power supply. Business Standard explains the major changes introduced in the 2018 avatar of the torch-bearing Act for the sector and its impact. The draft amendments would need comment from the industry and stakeholders before being placed on the floor of the Parliament. Direct Benefit Transfer of Subsidy: Breaking the cycle of subsidy and losses incurred by the discoms, the Act has introduced DBT in electricity as well. The Act says: if the State Government or Central Government desires the grant of any subsidy to any consumer or class of consumers, such subsidy shall be directly transferred to the beneficiary by direct benefit transfer into the bank account of the beneficiary.”

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