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  1. 15 states agree to join discom revival scheme: Piyush Goyal

15 states agree to join discom revival scheme: Piyush Goyal

Power and coal minister Piyush Goyal on Monday said 15 states have agreed to join the revival scheme for state-owned distribution companies, called Ujwal Discom Assurance Yojna...

By: | New Delhi | Published: January 5, 2016 1:02 AM

Power and coal minister Piyush Goyal on Monday said 15 states have agreed to join the revival scheme for state-owned distribution companies, called Ujwal Discom Assurance Yojna (UDAY), with Bihar, Maharashtra, Odisha and Uttar Pradesh being the latest to convey their intend to participate.

Goyal said  more than three quarter of the country’s population was now under UDAY even as the Centre continued to persuade other states to participate. “Bihar government cabinet is likely to take up clearance for joining UDAY tomorrow and with this nearly 90% of the discoms with massive debt would come under the scheme,” Goyal added.

The scheme requires the state governments to take over 75% of the short-term liabilities of their respective discoms and issues bonds against them to reduction cost for utilities.

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