Saying that discoms were trapped in a vicious cycle with operational losses being funded by debt and Ujjwal Discom Assurance Yojana (UDAY) will provide the financial support for their revival.
Power Minister Piyush Goyal on Monday said that the Ujjwal Discom Assurance Yojana (UDAY) reform is aimed at reviving ailing discoms. Goyal said, “The weakest link in the power value chain is distribution, wherein DISCOMs in the country have accumulated losses of approximately Rs 3.8 lakh crore over the past few years”. He said that discoms were trapped in a vicious cycle with operational losses being funded by debt and UDAY will provide the financial support for their revival.
http://www.moneycontrol.com/news/business/reviving-ailing-discoms-via-uday-piyush-goyal_4077001.html
