• Maharashtra may re-join UDAY for financial benefits; new Cabinet decision likely soon

    The Maharashtra government could modify its Cabinet decision to join power distribution companies’ revival scheme UDAY only for operational benefits and may now include financial parameters also, power minister Piyush Goyal today said.

    Goyal said the state has now shown interested in the financial benefits of the UDAY scheme and could soon pass another Cabinet decision to re-join the discom revival scheme.

    The minister said while that state did not have any major financial losses, it could still get benefit to the tune of Rs 1500 crore it joins UDAY for financial efficiencies.

    The UDAY scheme envisages the respective states of loss making dicoms taking over 75 per cent of the SEB debts of Rs 4.3 trillion into their books but will not be calculated as their fiscal deficit.

    This involves taking over 50 per cent of the short-term liabilities of their respective discoms in FY16 and remaining 25 per cent in FY17.

    The scheme was launched on November 20 last year to help loss-making power distribution companies in the states to come out of a debt trap of Rs 4.3 lakh crore by March 2016.

    So far, 19 states have given their approval to join the scheme and 10 states, namely, Rajasthan, Uttar Pradesh, Chattisgarh, Jharkhand, Punjab, Bihar, Haryana, Gujarat, Uttarakhand and Jammu & Kashmir have signed MoUs for the same. Noel Acciari Womens Jersey

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