Tamil Nadu becomes 21st state to join UDAY

Tamil Nadu has become the 21st state to join UDAY (Ujjwal Discom Assurance Yojana). The southern state today signed the memorandum of understanding to join the revival package for discoms.The UDAY is a scheme to help revive debt stressed electricity distribution companies. Two states, Telangana and Assam, joined the government's scheme last week to bring the tally to 20 states.With Tamil Nadu joining UDAY, over 90 percent of the total debts of discom companies will be covered under the scheme.Apart from helping power distribution companies with their debts, the power ministry will also reward them based on their performance on certain parameters under the program.