Jammu & Kashmir signs UDAY MoU, 9th state to join scheme

Last Modified: Tue Mar 15 2016 19:33:41 GMT+0530 (India Standard Time)
  • 15 Mar 2016
    The Ministry of Power, Government of India and the State of Jammu & Kashmir signed Memorandum of Understanding (MOU) under the Scheme UDAY – “Ujwal DISCOM Assurance Yojana” today for operational and financial turnaround of the DISCOMs.
  • Rs. 3,538 crore
    outstanding debt of the state's power development department as on 30 September 2015.
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    amount of debt (75%) owed by all DISCOMs now passed over to the state.
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    or 25% of state's DISCOM debt will now be repaid with fresh state guaranteed DISCOM bonds to be issued at coupon rates around 3% - 4% less than the average existing interest rate.
  • Rs. 1,200 crore
    Savings for the state in annual interest cost through reduction of debt and through reduced interest rates on the balance debt.
  • Rs. 7,150 crore
    The estimated additional revenues till FY 19 to accrue through reduction in AT&C losses and transmission losses.
  • Rs. 590 crore
    The gain expected till FY 19 through Demand Side interventions such as usage of energy- efficient LED bulbs, fans & air-conditioners and efficient industrial equipment.
  • Rs. 785 crore
    gain through coal reforms, such as availability of 100% washed coal.
  • Rs. 9,800 crore
    Estimated overall benefit.