The salient features of the mega revival plan — Ujwal Discom Assurance Yojna (Uday) which will help power distribution companies restructure outstanding debt of Rs.4.30 lakh crore are:-
— States to take over 75 percent of Discoms debt by 2016-17.
— Remaining debt to be converted into loans with marginal interest rate
— Debt not be included as fiscal deficit of state governments
— States to issue open market bonds to banks holding the debt
— States shall take over the future losses of Discoms
— States accepting Uday to be given priority funding
— States accepting Uday to be supplied with additional coal at notified prices
— Rs.4.30 lakh crore debt to be restructured through Uday
— Banks advised not to give further loans to loss making discoms
— Discoms to comply with the renewable purchase obligation (RPO)
— Uday to allow Discoms to break even in the next 2-3 years
— Strict monitoring mechanism set up for Uday
— Uday to improve operational efficiencies of Discoms
— Reduce cost of power
— Uday to see increased supply of cheaper domestic coal
— Coal linkage rationalisation and liberal coal swaps
— Supply of washed and crushed coal
— Faster completion of transmission lines
— Uday described as major step for providing 24X7 power for all. (IANS)