 "Power Grid bets on turnaround with Rs 91k-cr spending in three years")
Power Grid Corporation of India (PGCIL) is placing a bet on turnaround of the distribution sector and prospective demand from states.
“In intra-state transmission, Rs 1.5 lakh crore worth of work is expected. The positive impact of UDAY (the scheme for the distribution sector) and the Centre’s various reform programmes in states would kick-start investment in sub-transmission and distribution,” the government-owned company said in a presentation to its investors after the March quarter results.
UDAY or Ujwal Discoms Assurance Yojana is a debt-restructuring programme for state government-owned power distribution companies (discoms) to turn around the financial and operational performance. Most states would
