Uday is the most comprehensive assessment for the power sector, he said adding it is a bottoms-up approach, which is why every state has almost accepted it and the rest will come in line after elections.
The concept has also found resonance across political parties despite being voluntary, Goyal said at industry body CII's annual session here.
"It will result in Rs 1.80 lakh crore in saving every year and you will be delighted to know that we have been able to place Rs 1 lakh crore of Uday bonds by March 31 within a short span of two-and-a-half months," the minister noted.
Under Uday, 10 states have signed MoUs till date. The combined discom debt that would be restructured in respect of these states is around Rs 1.96 lakh crore, which is about 45 per cent of the total outstanding discom debt of Rs 4.3 lakh crore as on September 30, 2015.
Also Read
On wind power generation, Goyal said the country added 3,200 MW of wind power, the highest ever added in many years, particularly in the last 5-6 years.
Power Grid commissioned projects with a 39 per cent growth last fiscal, so almost Rs 30,000 crore projects got commissioned over 24,000 circuit kms.
On Coal India, the minister said India made an addition of 42 million tonnes in a fiscal, the highest ever addition to coal production.
The minister said coal is now in excess and the government is looking at avenues to sell it.
He added that Coal Ministry is talking to Railways to work out a strategy to move excess coal to places where it is required and try to cut down on imports.
"ISA is a platform where we are trying to get developed
and the under-developed world or the developing or emerging economies together to work in a state of partnership," Goyal added.
"We are going to sign final framework agreement, which was decided as the Paris Declaration, on April 22 in New York. We will also be having a final signing ceremony of the ISA on the sidelines of this ceremony. I believe business and government can work together to take power to these areas," he added.
He expressed confidence that India would meet the target of 20,000 MW of solar power by 2017 and 100 gigawatts target of renewable energy by 2022.
"So states have started a transparent e-bidding system to check such things. This will enhance quality and bring down prices of power equipment," Goyal added.
The government is focusing on a multipronged strategy to ensure increased electricity access and demand, he said.
The overall strategy includes focus on enhancing energy efficiency, thrust on renewable energy and ensuring sustainable growth, the minister added.
"Our first priority is taking power to the poorest of the poor in the country and I am fairly confident of bringing electricity to all villages by next year. We intend to reach every home in the country by 2019," he stressed.