UDAY scheme News

Ujwal DISCOM Assurance Yojana (UDAY) envisages reduction in interest burden, cost of power and Aggregate Technical and Commercial (AT&C) losses. It was launched in November 2015.

The Union cabinet on Wednesday approved the norms for the next round of spectrum auctions and a new textiles policy to push manufacturing and exports, besides extending the scheme to assist debt-ridden power distribution companies in the state sector.

Union Cabinet on Wednesday approved a proposal to extend timeline for joining UDAY scheme meant for revival of debt-laden discoms and issue bonds for paying their outstandings during this fiscal.

RBI today said power sector reform scheme UDAY may have adverse implications for state finances on account of burgeoning liabilities due to takeover of 75 percent of the existing debt of discoms and hurt growth by impacting developmental expenditure.

The RBI today asked market participants interested in subscribing to the special securities under UDAY scheme through private placement route to approach it by March 30

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Government will meet its target of electrifying 18,452 villages by March next year, much ahead of the May 2018 deadline as over a third of the task has been completed already, Power Minister Piyush Goyal said.

 As many as 15 states have agreed to opt for UDAY scheme, meant for revival of debt stressed power distribution companies (discoms) in the country, Union Minister Piyush Goyal said today.

Renewables emerged as the light at the end of the tunnel for the power sector, which continued to be bogged down by the debt worries of discoms during 2015 and all eyes are on the ambitious UDAY scheme on whether it can prove to be the much-needed elixir in the New Year.