TN power discom reduces loss, on path to break even shortly, says minister

State has taken over Tangedco's Rs 228.15 bn loans, subsequent to its joining Centre's UDAY scheme

The Tamil Nadu government, which has been opposing the Centre's Ujwal DISCOM Assurance Yojana (UDAY), is now saying that the scheme is one reason for the state's electricity board turning around in the coming year.

Minister of Electricity, Prohibition and Excise P Thangamani tabled the department's policy note which stated that on the implementation of revenue augmentation and cost control measures, Tamil Nadu Generation and Distribution Corporation (Tangedco)'s loss reduced to Rs 29.75 billion in 2017-18 from Rs 139.85 billion in 2013-14.

"All necessary proactive steps are being taken to break even shortly," Thangamani said, quoting the note.

The gap