Maharashtra Pushes for UDAY Scheme Revival in Power Sector Overhaul

Maharashtra Chief Minister Devendra Fadnavis has urged for the reintroduction of the UDAY scheme to support the financial sustainability of power distribution companies. Proposals include issuing interest-free bonds, enhancing efficiency with AI, and prioritizing renewable energy and battery storage. Aimed measures are to reduce costs and improve service.

Maharashtra Chief Minister Devendra Fadnavis has called on the central government to reinstate the UDAY scheme, which targets the financial stability of power distribution companies. Proposing several measures, Fadnavis emphasized the need for interest-free bonds and lower interest rates for the energy sector.

During a ministerial committee meeting focusing on power distribution's financial sustainability, Union Minister Shripad Naik highlighted the nationwide losses in the sector, urging enhancements through AI, modern technology, and smart meters. The government plans investments in renewable energy and implementation of battery storage solutions.

Fadnavis underlined Maharashtra's approach to stabilize Mahavitaran through initiatives like the Mukhyamantri Solar Krishi Vahini Yojana, aiming for substantial cost reductions and efficiency improvements. Efforts include reducing electricity tariffs through solar projects and strategies to lower procurement costs.

(With inputs from agencies.)