A total of ~Rs.2.07 trillion (~$30.99 billion) DISCOM debt has been restructured under the Ujwal DISCOM Assurance Yojana (UDAY) program in India. UDAY is a government program designed to facilitate the financial turnaround of DISCOMs (utilities). There are 22 states and union territories that have joined the UDAY program.
Of the ~Rs.2.72 trillion (~$40.73 billion) debt proposed to be restructured, for the 15 states who have joined for both, operational and financial turnaround, Rs.2.07 trillion (~$30.99 billion) worth liabilities have already been restructured, stated Mr. Piyush Goyal, Minister for Power, in the Lok Sabha.
Mercom had previously reported on the progress of UDAY program after a year of inception.
Wendy is a co-founder of Mercom Capital Group, the parent company of Mercom India. Wendy is a contributing editor at MercomIndia.com and is responsible for content quality across the company and products. She has over 15 years of business and finance experience in the energy and technology markets. In addition to Mercom, Wendy has written for many other clean energy-focused blogs and publications. More articles from Wendy Prabhu.