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GOVERNMENT OF INDIA
MINISTRY OF POWER
LOK SABHA
UNSTARRED QUESTION NO: 2565
ANSWERED ON:  02.08.2018
Financial Condition of DVC
UDIT RAJ
Will the Minister of



POWER be pleased to state:-


(a) whether the Government is aware of the critical financial condition of Damodar Valley Corporation (DVC) mainly due to rampant corruption at high echelons of its management;

(b) if so, the details thereof;

(c) the action initiated by the Government to save DVC from financial collapse; and

(d) the details of investigation instituted by his Ministry in this regard?



ANSWER
THE MINISTER OF STATE (INDEPENDENT CHARGE) FOR POWER AND
NEW & RENEWABLE ENERGY

( SHRI R. K. SINGH )

(a) to (d) : The summary of financial results of DVC for last 5 years is given below:

Particulars (Rs. Crore) 2013-14 2014-15 2015-16 2016-17 2017-18 (Unaudited)
Total Income 12254 11573 13096 15553 16118
Total Expenditure 13249 12906 14240 16460 16965
Net Profit (Loss) (995) (1334) (1143) (907) (847)

For last 5 years DVC could not make profit, as the generation and sale was below break-even level and therefore, could not make full recovery of fixed charges for the power plants. However, in the last quarter of financial year 2017-18, DVC has made a net profit of Rs.19 Crore after 15 quarters. Performance of the first quarter of FY 2018-19 is also better compared to earlier years.

Complaints about corruption / financial irregularities received in the Ministry are dealt with as per the laid down procedure.

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