Punjab has become the seventh state today to join UDAY scheme meant for the revival of discoms that will help it save Rs 5,475 crore in the next three years under the programme. Centre is expecting Jammu & Kashmir to formally join UDAY next week as the state has already finalised the terms of the agreement for the scheme.
The other two states, which can sign the formal agreements this month to join the scheme are Andhra Pradesh and Haryana. After Punjab joining UDAY scheme, around Rs 1.6 lakh crore debt of discoms have been covered through the programme which is about 37 percent of total outstanding of Rs 4.3 lakh crore in the country. The agreement was singed in the presence of Power Minister Piyush Goyal and Punjab Deputy Chief Minister Sukhbir Singh Badal.