Updated By: LatestGKGS Desk
Union Ministry of Power has launched UDAY scheme for financial assistance to the Power Distribution Companies.
Earlier Jharkhand, Gujarat, Chhattisgarh, Punjab Haryana and many other 16 states joined this scheme.
Maharashtra became the 17th state to join Ujwal DISCOM Assurance Yojana (UDAY) scheme.
This scheme was initiated by the government of India to get the solution of the financial mess in the power distribution.
The UDAY scheme was launched by the Minister of State for power, coal and renewable energy, Shri Piyush Goyal in November 2015.
The states can convert their shares into bonds and can raise the fund from the public as well.
This Scheme will enable the states to make DISCOM companies’ financially healthy and also ensures to reduce the interest cost of the DISCOM companies.
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