Maharashtra signs MoU for UDAY

The central government has signed an MoU with the Maharashtra government and Maharashtra State Electricity Distribution Company Limited for participation in the Ujwal Discom Assurance Yojana (UDAY). The state is likely to see net benefits of around Rs 97.25 billion owing to savings in interest costs, reduction in aggregate technical and commercial losses, improvements in energy efficiency, etc. With this, 17 states and union territories have joined UDAY and the cumulative discom debt (including central public sector undertakings’ dues) to be restructured under the scheme is around Rs 2,570 billion (as of September 2015).