Prime Minister Narendra Modi when chaired with Union Cabinet has given its nod to Ujwal DISCOM Assurance Yojna (UDAY) for financial reestablishment of debt of power distribution companies.Objective of this schemes is for financial turnaround and improvement of (DISCOMs)Power Distribution companies and also ensures a sustainable permanent solution to the problem.
About UDAY scheme
This scheme allows power Distribution Companies DISCOMs to convert their debt into state bonds in selected states as well as rise number of measures to upgrade efficiency at power plants.
It Seeks to ensure that struggling DISCOMs can clear years of losses and start on a path to profitability.
UDAY Scheme for financial restructuring package for power DISCOMs has been approved by Union Cabinet
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