Indian Chamber welcomes TN govt decision to join UDAY scheme

The Indian Chamber of Commerce and Industry (ICCI) here today welcomed the decision of Tamil Nadu government to join UDAY, a scheme for operational and financial turnaround of power distribution companies (DISCOMs).
The (state) government will certainly reap approximately Rs 11,000 crore worth benefit by way of savings in interest cost by its power distribution companies, mitigating transmission losses and initiating other measures such as improving energy efficiency and coal availability, ICCI president, Vanitha Mohan said in a release here.
The state is also taking over 75 per cent of the debt of Rs 30,420 crore of TANGEDCO by signing this agreement, under UDAY scheme, she noted.

The Chamber will initiate measures to create large scale awareness among the citizens in order to encourage them to collaborate with the government to improve energy efficiency, she added.
Tamil Nadu had on January 9 joined the Centre's Ujwal DISCOM Assurance Yojana (UDAY) scheme, meant for revival of debt stressed discoms, which would help the State save around Rs 11,000 crore during the 3-year turnaround period.