Union Cabinet extends deadline of UDAY scheme

The Cabinet approved an extension in the deadline for implementing the Ujjwal Discom Assurance Yojana (UDAY) by a year to March 31, 2017. The UDAY scheme is aimed at bringing ailing power distribution companies (discoms) to a state of operational efficiency, with state governments taking over up to 75 % of their respective discoms debt and issuing sovereign bonds to pay back the lenders. The Cabinet decision extends this provision from the earlier deadline of March 31, 2016.

It is considered as a significant step in realising the vision of proving 24X7 affordable and environment-friendly Power for All. This intervention will also lower the interest burden of debt and allow states, which could not join UDAY earlier to put DISCOMs reforms on accelerated path.

So let’s do:
1. The Cabinet approved an extension in the deadline for implementing the Ujjwal Discom Assurance Yojana (UDAY) by a year to _______.

Source – The Hindu


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