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Jharkhand signs MoU for UDAY scheme

Wednesday, 06 Jan 2016

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Jharkhand has signed an agreement with the Power Ministry to join UDAY, a central scheme for the revival of debt-stressed power distribution companies.

The central and state governments and JBVNL (Jharkhand Bijli Vitran Nigam) have signed an MoU under the scheme, Ujjwal Discom Assurance Yojna for operation and financial turnaround of JBVNL. This is expected to benefit the state to the tune of Rs 5,300 crore.

As per the MoU Jharkhand government will take over 100 per cent liabilities of outstanding dues with central public sector undertakings (CPSUs) and 75 per cent of the outstanding debt of JBVNL as on 30 September 2015.