The Department of Expenditure, Ministry of Finance, has earmarked ₹1.43 trillion (~$17.4 billion) as financial incentives in the form of additional borrowing permissions for states undertaking various reforms in the power sector during the financial year (FY) 2023-24. Based on the recommendations of the Ministry of Power, the Ministry of Finance has granted permission for reforms undertaken in FY 2021-22 and FY 2022-23 by 12 state governments. Over the past two financial years, these states have been allowed to raise financial resources amounting to ₹664.13 billion (~$8.1 billion) through additional borrowing permissions.