Power Minister Piyush Goyal today expressed confidence that all the states in the country will join the Centre's 'UDAY' scheme for revival of debt-laden power distribution companies.
Himachal Pradesh today became the fourth state after Andhra Pradesh, Jharkhand and Rajasthan to join the scheme.
"Congratulations to Himachal Pradesh on joining UDAY (Ujwal Discom Assurance Yojana). We are confident of every single state joining UDAY," Goyal said in a tweet.
The minister further said he met the heads of all the banks with exposure to discoms.
"Met the heads of all the banks with exposure to discoms. All banks are fully participating in UDAY," he tweeted.
The scheme is optional and gets operationalised by signing a pact between states, state discoms and the Centre.
The central government's UDAY aims at reviving ailing state electricity boards and operational efficiencies of power distribution companies. It envisages on reducing interest burden, cost of power and AT&C losses.
Consequently, the discoms will become sustainable to provide adequate and reliable power enabling 24x7 power supply. The scheme provides that states would take over 75 per cent debt of discoms, as on September 30 in two years.
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Later in a statement, Power Ministry said UDAY is getting enthralling support from several states.
"After Andhra Pradesh, Jharkhand, and Rajasthan, state governments of Himachal Pradesh and Uttarakhand have communicated their in-principle approval to the Ministry of Power to join UDAY Scheme," the statement said.
Meanwhile, Goyal said in a tweet, "Glad to welcome Uttarakhand into UDAY (Ujwal DISCOM Assurance Yojana). The Land of the Gods (Devbhumi) will also become Land of Electricity.
