Jammu and Kashmir to net Rs 9,800 crore benefit through UDAY

Jammu and Kashmir has joined the Centre’s debt recast scheme for power distribution companies and is expected to net benefits worth Rs 9,800 crore through reduction of interest burden on debt and measures like reduction in transmission losses, use of energy efficient appliances and coal reforms.

In all nine states have signed an agreement with the Centre for the Ujwal Discom Assurance Yojana ( UDAY). The states have a combined debt of about Rs 1.94 lakh crore, which is about 45 per cent of the total outstanding discom debt of Rs 4.3 lakh crore.