Jan 05, 2016 10:12 PM IST | Source: CNBC-TV18

Expect entire country to be covered under UDAY by March: Goyal

Piyush Goyal, minister of power and coal, says UDAY is not a centrally directed scheme. It has been prepared in collaboration with all the states, bankers, consumer organisations, PSUs and hence was never made mandatory.

Expect every state to join UDAY and major states are already on board, is the word coming in from Piyush Goyal, minister of power and coal. "90 percent of discoms losses are covered within these states. Nearly 75 percent of India's population gets covered in that," he told CNBC-TV18.

Now, there are 12 states/ union territories that still have power boards and hence don't have any debt to be taken over. But we still want them to come on board to enjoy other benefits, he adds.

He expects the entire country to be covered under UDAY in principle by March, and half of them to have executed MOUs by then.

Goyal says this is not a centrally directed scheme. It has been prepared in collaboration with all the states, bankers, consumer organisations, PSUs and hence was never made mandatory.

As far as Tamil Nadu is concerned, he says the state has a peculiar situation — it is not a totally unbundled utility. "Distribution companies, generation and transmission are all parked in one company. We have to do a bit of valuation, work out what is the discom debt," he told CNBC-TV18.

Sections
Follow us on
Available On