Jharkhand Govt gets Rs 5553.37 crore under UDAY,saves Rs 1505.87 crore

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Representational Picture Courtesy-static.english.pradesh18.com

On the last day of the iscal 2015-16,Jharkhand government received Rs 5553.37 crore delivered by the Reserve Bank of India under UDAY- Ujwal DISCOM Assurance Yojna,said Development Commissioner and Principal Secretary(Finance)Amit Khare.

At the same time,the state government through its own run power companies-Jharkhand Urga Vitran Nigam Ltd,Jharkhand Urja Sancharan Ltd and Jharkhand Urja Utpadan Ltd has paid Rs 4470.00 crore to DVC and Rs 783.37 crore to CIL.

“As a result,60 percent discount in Delayed Payment Surcharge(DPS) was obtained,making the state government save Rs 1505.87 crore”,said Khare.

Incidentally,after the Union Cabinet,chaired by the Prime Minister Narendra Modi on November 5,2015,provided its approval to a new scheme- UDAY-Jharkhand government was the first state in the country to accept the scheme.

The scheme provides for the financial turnaround and revival of Power Distribution companies (DISCOMs), and importantly also ensures a sustainable permanent solution to the problem.

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