Nagaland, 3 Union Territories sign MOU to join UDAY scheme

ANI | Updated: Nov 21, 2017 13:52 IST

New Delhi [India], Nov 21 (ANI): Nagaland, Andaman and Nicobar Islands, Dadra and Nagar Haveli, and Daman and Diu have signed a Memorandum of Understanding (MoU) with Government of India, under Ujwal Discom Assurance Yojana (UDAY) scheme.

"These State/UTs have joined only for operational improvement and shall not undergo financial restructuring/issue of bonds under the scheme," a Power Ministry release stated.

Thus, till date, 27 States and four Union Territories have joined UDAY scheme.

" An overall net benefit of approximately Rs. 551 crores, Rs. 18 crores, Rs. 13 crores and Rs. 10 crores respectively would accrue to the State of Nagaland and UTs of Andaman and Nicobar, Dadra and Nagar Haveli, and Daman and Diu," the release said.

They will get the benefit by way of cheaper funds for capital expenditure, reduction in Transmission losses, interventions in energy efficiency, etc. during the period of turnaround.

" Reduced levels of AT&C losses would mean lesser cost per unit of electricity to consumers. Further, an operationally healthy DISCOM/Electricity Department would be in a position to supply more power," the official release said. (ANI)