Maharashtra Becomes 17th State to Join UDAY
Maharashtra has joined the Ujwal DISCOM (distribution company) Assurance Yojana (UDAY), becoming the 17th state to do so. The state is estimated to achieve a net benefit of Rs.97.25 billion (~$1.45 billion). Under the UDAY program, the combined DISCOM debt that will be restructured with respect to these states and union territories is around Rs.2.57 trillion (~$38.55 billion).
According to a government release, the Government of India signed a memorandum of understanding (MoU) with the Government of Maharashtra and Maharashtra State Electricity Distribution Company (MSEDCL) under the UDAY program at the State Power Ministers Conference held in Vadodara on October 7, 2016.
With Maharashtra’s inclusion in the UDAY program, these 17 states and union territories account for 68 percent of the total debt to be restructured through the program.