press trust of india
New Delhi, Jan 4: Government’s UDAY scheme has helped debt laden DISCOMs of 24 states to reduce losses to Rs36,905 crore in 2016-17 from Rs51,590 crore in the previous fiscal, Parliament was informed Thursday.
“As per data furnished by the states, the aggregate net losses of DISCOMs participating in UDAY have come down from Rs51,590 crore in 2015-16 to Rs36,905 crore in 2016-17,” Power Minister R K 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).
The scheme aims to reduce interest burden, cost of power and power losses in distribution sector, besides improving operational efficiency of DISCOMs.
The minister said the interventions under UDAY have yielded encouraging results.
The participating states have achieved an improvement of one per cent in Aggregate Technical & Commercial (AT&C or distribution) losses and Rs0.17 a Unit in the gap between Average Cost of Supply and Average Revenue Realised in 2016- 17, he said.
Earlier in the day, Singh tweeted: “Government to conduct auctions next month for power plants that do not have power purchase agreements (PPAs) 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.”
LS passes IBC, Nabard Bills
New Delhi: The Lok Sabha Thursday approved amendments made by the Rajya Sabha on two Bills — The National Bank for Agriculture and Rural Development (Amendment) Bill, and Insolvency and Bankruptcy Code Amendment) Bill — passed by it earlier.Minister of State for Corporate Affairs P P Chaudhary tabled the amendments which the House passed by voice vote, giving Parliament’s nod to the two crucial legislations. The amendments substitute the year 2017 with 2018 as the bills were finally passed in the new year.
