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The government’s UDAY scheme has helped debt laden Discoms of 24 States to reduce losses to ₹36,905 crore in 2016-17 from ₹51,590 crore in the previous fiscal, Parliament was informed today.
“As per data furnished by the States, the aggregate net losses of Discoms participating in UDAY have come down from ₹51,590 crore in 2015-16 to ₹36,905 crore in 2016-17,” Power Minister RK Singh said in written reply to Lok Sabha.
The Ujwal DISCOM Assurance Yojana (UDAY) was launched for the operational and financial turnaround of state-owned Power Distribution Companies (Discoms).
Earlier in the day, Singh tweeted: “government to conduct auctions next month for power plants that do not have power purchase agreements and is working on a model, whereby demand from all States will be aggregated and tariff-based competitive bids will be invited from power-generating companies.”
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