Piyush Goyal, the MoS (Independent Charge) for Power, Coal, New, and Renewable Energy gave an exclusive interview at ‘On the Spot with Shutapa Paul’ and while speaking to Shutapa Paul, Group Editor at News talked about his latest initiative in the power sector- UDAY.
Also, while talking to News, he revealed the possibility of the first auction of the 1-year contract of coal unlinked to any end-user requirement happening this fiscal year.
The Ujwal DISCOM Assurance Yojana (UDAY) is the financial turnaround and revival package for electricity distribution companies in India. Initiated by the Government of India, it is aimed at finding a solution to the financial mess that the power distribution sector faces.
He mentioned that UDAY is a “win-win” for all the participants and after almost nine months since it was tabled, all the states are on-board this proposal. He also gave an insight into the benefits of this scheme as according to him, “India will save ₹1,80,000 crore through UDAY annually and one will see prices fall at the end of full implementation of UDAY.” Watch the complete interview here:
