New Delhi: People residing in the NDMC area will now get a 6 per cent yearly interest on the security deposit submitted by them while applying for an electricity connection.

The above announcement was made today by New Delhi Municipal Council chairperson Jalaj Srivastava during the presentation of the 2014-15 budget.

The 6 per cent interest benefit is only meant for domestic electricity consumers and will be implemented from April this year.

“People depositing security money while buying a connection will be given 6 per cent yearly interest on the same. NDMC is the first body to implement the scheme,” Srivastava said.

The interest will be received by consumers as a subsidy which will be credited in their first bill in April of every year, an NDMC official said.

Around 43,982 domestic consumers are going to benefit from the scheme.

Power connections in the NDMC zone was the main highlight of the Rs 2,555.93 crore budget announced by the civic body.

An allocation of Rs 1,018.79 crore has been made in the budget for electricity works such as construction of new 33kV sub-stations, incentivising use of solar energy, etc.

Many of these projects are being carried forward from last year’s budget with NDMC’s focus this time being more on the completion of pending works.

Plans for construction of four 33kV sub-stations at Church Road, Janpath, Aliganj and Delhi High Court were mooted in the past two years.

After completing the pending works, NDMC also plans to set up 11kV sub-stations at the American Embassy School at Chanakyapuri and on Africa Avenue Crossroad No.2.

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