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Tamil Nadu becomes 21st State to join UDAY

State to derive an Overall Net Benefit of approximately Rs. 11,000 crores through UDAY. The State would have savings of about Rs.950 cr. in annual interest cost through reduction of debt and through reduced interest rates on the balance debt.

Tamil Nadu becomes 21st State to join UDAY

In a significant move and following months of persuasion by the Centre, Tamil Nadu came on board the power ministry’s flagship scheme UDAY. By signing the MOU under UDAY, the State Government is taking over 75% of debt of Rs. 30,420 crores of TANGEDCO. The scheme also provides for the balance debt to be re-priced or issued as State guaranteed Discom bonds, at coupon rates around 3-4% less than the average existing interest rate.

Tally of states joining UDAY to reach 20 as Assam and Telangana decide to come on board

Financial health of state power DISCOMs has been a big blot on the performance of state’s power sector and in order to make these DICSOMs financially viable and operationally sustainable, the scheme UDAY assumes a lot of significance.

Tally of states joining UDAY to reach 20 as Assam and Telangana decide to come on board

Two more states of Assam and Telangana will be joining the power ministry’s flagship scheme, Ujwal DISCOM Assurance Yojana (UDAY)—taking the tally ofvstates having joined the scheme to 20.

Pradhan and his Nigerian Counterpart Discuss $15 bn Co-operation in Hydrocarbon Sector

Nigeria is one of the largest trading partners of India in Africa which is dominated by import of crude oil and gas from Nigeria. In 2015-16, India imported nearly 23.7 MMT of crude (nearly 12% of India overall imports) and over 2 MMTPA of LNG from Nigeria.

Pradhan and his Nigerian Counterpart Discuss $15 bn Co-operation in Hydrocarbon Sector

The Minister of State (I/C) for Petroleum & Natural Gas, Shri Dharmendra Pradhan met his Nigerian counterpart Dr. Emmanuel Ibe Kachikwu, Minister of State for Petroleum in New Delhi today. Dr Kachikwu is on a three days official visit to India.