Jharkhand may go for Ujjawal Discom Assurance Yojana

By Abha Manakatala - Fri Dec 04, 11:37 am

Representational Picture

Representational Picture

The Jharkhand government has conveyed to the Union Government its interest to be part of the Centre’s recently-launched Ujjawal Discom Assurance Yojana (UDAY), which aims to find a solution to the financial mess in power distribution, a senior government official said.

” Once the state and the Power Ministry agree to the terms and condition an MoU will be signed,” said the official.

He said more states are likely to become part of the scheme. Under UDAY states will take over 75 per cent of debt of their distribution companies over two years to reduce the interest cost on debt to about 9 per cent from 15 per cent.

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