MoP seeks CCEA’s approval for extension of timeline for bond issuance under UDAY

The Ministry of Power (MoP) is likely to present a proposal to the Cabinet Committee on Economic Affairs (CCEA) seeking extension of the timeline for issuance of bonds under the Ujwal Discom Assurance Yojana (UDAY). The ministry’s proposal is in the wake of fears that a glut of power sector bonds might hamper the borrowing plans of states and the centre, as well as impact the financial restructuring scheme of discoms. So far, of the 19 states that agreed to join UDAY, 10 states have signed MoUs while eight have issued bonds.

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