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1.The government’s UDAY Scheme to aid ailing electricity distribution companies (discoms) has a better chance of succeeding than the previous financial restructuring plan, says Crisil.
2.Under UDAY, state governments will take over 75 per cent of the debt held by their discoms as of September 30, 2015. Half the debt will be taken over in 2015-16 and 25 per cent in 2016-17. The balance 25 per cent of the debt is to be serviced through state government-guaranteed bonds issued by the discoms.
3.So far, 15 states have joined the UDAY scheme. Around 90 per cent of the losses made by the discoms are covered by the states that had joined UDAY, Power Minister Piyush Goyal said two weeks ago.