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IREDA signs MoU with Government, Revenue Target

Published on August 22, 2023
Current Context: IREDA has signed a performance-based Memorandum of Understanding (MoU) with the Ministry of New and Renewable Energy, Government of India, on August 21, 2023.
IREDA signs MoU with Government, Revenue Target
  • IREDA stands for Indian Renewable Energy Development Agency, a Mini Ratna (Category – I) Government of India enterprise under the administrative control of Ministry of New and Renewable Energy.
  • The MoU outlines the strategic targets that IREDA aims to achieve during the fiscal years 2023-24 and 2024-25, in alignment with the guidelines issued by the Department of Public Enterprises, Ministry of Finance.
  • As per the MoU, the Government of India has set a Revenue from Operations target for IREDA, of 4,350 crores for the financial year 2023-24 and 5,220 crores for 2024-25.
  • The government has also specified other key performance parameters in the MoU, such as Return on Net Worth, Return on Capital Employed, NPA to Total Loans Ratio, Asset Turnover Ratio, and Earnings per Share .
  • The MoU was signed by Secretary, MNRE, Shri Bhupinder Singh Bhalla and Chairperson & Managing Director (CMD), IREDA, Shri Pradip Kumar Das at Atal Akshay Urja Bhawan, New Delhi.

Question:

Q.1 What is the Revenue from Operations target for IREDA for the financial year 2023-24, as per the MoU?
a. 3,482 crores
b. 4,350 crores
c. 5,220 crores
d. 6,100 crores
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