Describe the relevant provisions of IEA 2003 and National Tariff Policy aimed at rationalizing the tariff in the electricity sector.

The Electricity Act, 2003 (IEA 2003) and the National Tariff Policy (NTP) play a crucial role in rationalizing tariffs in the power distribution sector in India. These frameworks aim to promote competition, efficiency, and financial viability while ensuring affordability for consumers.

Relevant Provisions of the Electricity Act, 2003:

1. Elimination of Cross-Subsidies (Section 61(g)):
   The Act mandates the gradual reduction of cross-subsidies in electricity tariffs to ensure that different consumer categories bear costs more equitably. It directs regulators to set tariffs in a way that minimizes undue burden on any particular class of consumers.

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