Twenty-six Indian states and union territories have so far joined the Ujwal DISCOM Assurance Yojana (UDAY) program which was implemented by the government of India to assist the financial turn around of DISCOMs (utilities/distribution company). The states of Meghalaya, Tripura, Arunachal Pradesh and Kerala are the new additions.
The Government of Meghalaya, Meghalaya Power Distribution Corporation Limited (MePDCL) and the Government of India signed a tripartite memorandum of understanding (MoU) on March 9, 2017, to improve operational and financial efficiency of MePDCL and to bring about its financial turnaround.
The Government of Tripura, Tripura State Electricity Corporation Limited and the Government of India also signed a tripartite MoU on March 29, 2017 with the goal of improving the financial standing of Tripura State Electricity Corporation Limited.
The Ministry of Power (Government of India) and Government of Arunachal Pradesh signed a bipartite MoU on March 29, 2017, to help improve the operational efficiency of the Department of Power (Government of Arunachal Pradesh).
In the state of Kerala, the Kerala State Electricity Board (KSEBL), the Government of Kerala and the Ministry of Power (Government of India) signed a tripartite MoU on March 2, 2017, also to improve operational efficiencies and enable sustainable operations of KSEBL.
Mercom previously reported, that in the first nine months of India’s current financial year 2016-2017, the interest costs of states and union territory DISCOMs that have joined the UDAY program have been reduced by Rs.119.89 billion (~$1.83 billion).
Image Credit: UDAY
Saumy is a senior staff reporter with MercomIndia.com covering business and energy news since 2016. Prior to Mercom, Saumy was a copy editor at Thomson Reuters. Saumy earned his Bachelors Degree in Journalism & Mass Communication from the Manipal Institute of Communication at Manipal University. More articles from Saumy Prateek.