Power crisis

The audit of state-owned power distribution companies (discoms) for the fiscal year 2018-19 shows that the Ujwal DISCOM Assurance Yojana (UDAY) has failed to attain most of its stated objectives. It is likely that the government will once again need to make a large intervention, which would naturally dent general government finances at a time when a pandemic-hit economy needs support. UDAY was expected to turn around the discoms at both the operational and financial level. Accordingly, states took over 75 per cent of the debt of discoms worth over Rs 2 trillion, which pushed up their debt stoc.....

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel
Key stories on business-standard.com are available to premium subscribers only.

Already a premium subscriber?

Subscribe to get an across device (Website, Mobile Web, Iphone, Ipad, and Android Phone applications) access to Premium content, Breaking News alerts, Industry Newsletters, Stock and Corporate news alerts, access to Archives and a lot more.