Budget 2019: Govt will work to remove UDAY barriers for discom turnaround


Budget 2019: Govt will work to remove UDAY barriers for discom turnaround

The government is going to work with the state governments to remove the barriers in the implementation of the ambitious UDAY scheme for the turnaround of power distribution companies, Finance Minister Nirmala Sitharaman said today.

”The government had launched the UDAY scheme in 2015 for the financial and operational turnaround of power discoms. We are examining the performance of the scheme and will work with states to remove barriers like the Cross Subsidy Surcharge,” Sitharaman said in her maiden budget speech in Parliament today.

The UDAY scheme has faced criticism of late owing to mounting debt and overdues of discoms. In a report last month, ratings agency CRISIL had said the combined external debt of discoms Read More

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