UDAY gets instant 'pan-India consensus', says Goyal

Union Power Minister Piyush Goyal today claimed "a pan-India consensus" on the scheme unveiled by the Centre to rescue almost bankrupt state electricity retailers.
"Almost all the states have heartily welcomed the new initiative (announced yesterday) when it was discussed at the conference of Power, Renewable Energy & Mines Ministers of State and Union Territories being held in the city," he said.
"The new scheme UDAY has been very well received. Today we shared the scheme in greater details with power ministers from all the states and I am delighted to report to you and to the people that almost all the states have heartily welcomed this new initiative. There is a pan India consensus on this proposal," the minister told reporters here.

He said if all the discoms start making profit and working efficiently, then the entire country can achieve 24x7 power to all our people at affordable price.
The minister said the Centre would sit down with all the states in coming months to help them prepare plans for the future.
"In a bottom of approach where the Centre will not dictate any terms to the state but voluntarily states should prepare their own plans how they will improve the working of their power companies, how they will serve their people better with affordable power," Goyal said.

He said India had surplus power and coal and if the health of discoms improve through UDAY, it will increase the ability of the companies to procure more power, it will bring down the cost of power and provide more service to the people.

Earlier, inaugurating the inaugurating the conference of Power, Renewable Energy & Mines Ministers of State and Union Territories here, the minister said "a clear roadmap has been drawn to solve the present crisis of discoms."
"It will help in a big way in wiping out the losses of discoms by 2019,," he added.
The government had said yesterday that state governments, which own the discoms, can take over 75 per cent of their debt as of September 30 and pay back lenders by selling bonds.
For the remaining 25 per cent, discoms will issue bonds.
The central government will ease rules to allow states participating in the scheme to borrow more and help with the additional burden.