States participating in the Ujwal DISCOM Assurance Yojana (UDAY) have taken over the targeted debt of Rs 2.09 lakh crore of their DISCOMs under borrowing exemption from the FRBM Act given in UDAY for the years 2015-2016 and 2016-2017.
In an official statement, the Ministry of Power said, "The process of states taking over the targeted debts and issuing them as SDL Bonds has now been completed. As of now, the participating DISCOMs have to issue bonds worth approximately Rs 37,000 crore, which would be done in due course."
Rest of the debt with DISCOMs is mostly in the nature of CAPEX debt, which pays for itself, or scheme-based debt, which converts into grants fully or partially. Thus, they are not required to be taken over by the states, the statement added.
The participating DISCOMs have achieved net savings of approximately Rs 15,000 crore till March, 2017. Further, in the participating states, the gap in the Average Cost of Supply (ACS) - Average Revenue Realised (ARR) has come down by almost 14 paise per unit and AT&C losses have reduced by almost 1 per cent in financial year 2017.