Maharashtra becomes 17th state to join UDAY Scheme
Posted on: 08 Oct 2016 17:59:00
08 October 2016 Current Affairs: Maharashtra became 17th state to Central Government’s Ujwal Discom Assurance Yojna (UDAY) scheme. It will help Maharashtra to reap benefits worth Rs 9,725 crore by way of cheaper funds, transmission losses, energy efficiency and coal reforms during the period of the turnaround. Under the UDAY Scheme, Maharashtra has committed to take more than 75% of the discom’s non-capex debt of around 6,600 crore rupees in the current year. The balance 25% debt will be converted into bonds or re-priced at cheaper rates which will reduce the interest burden by 595 crore rupees.
Ujwal DISCOM Assurance Yojna (UDAY) : UDAY Scheme was launched by Union Ministry of Power for financial restructuring of debt of Power Distribution companies (DISCOMs). It aims for financial revival and turnaround of DISCOMs and also ensures a sustainable permanent solution to the problem. Power DISCOMs of states by joining this scheme can convert their debt into bonds which can be issued in market as well as roll out number of measures to improve efficiency at power plants.
It will make DISCOMs financially and operationally healthy so they can supply adequate power at affordable rates. It will help in reduction in interest cost of DISCOMs and enforcing financial discipline in DISCOMs through alignment with State finances.
FreshersLive - No.1 Job site in India. Fresherslive Current Affairs 2017 section offers informative quiz questions with answers regarding latest current affairs today for all sorts of competitive exams like UPSC, TNPSC , IFS, IAS, IPS, railway exams (RRB) and banking exams like IPBS PO, IPBS clerk, Federal Bank PO, ICICI, SBI, RBI legal officer & Grade officer posts and much more. Register with us to get latest Current Affairs Updates. Also get latest Current Affairs news and quiz Updates for free alerts daily through E-mail