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Home » India » First auction of 1-year contract of coal in this fiscal, may be earlier: Piyush Goyal

First auction of 1-year contract of coal in this fiscal, may be earlier: Piyush Goyal

By Newsd
Updated on :

Piyush Goyal, the MoS (Independent Charge) for Power, Coal, New and Renewable Energy gave an exclusive interview at ‘On the Spot with Shutapa Paul’ and while speaking to Shutapa Paul, Group editor at Newsd talked about his latest initiative in the power sector- UDAY.

Also, while talking to Newsd, he revealed the possibility of first auction of 1-year contract of coal unlinked to any end-user requirement happening this fiscal year.

The Ujwal DISCOM Assurance Yojana (UDAY) is the financial turnaround and revival package for electricity distribution companies of India. Initiated by the Government of India, it is aimed at finding a solution to the financial mess that the power distribution sector faces.

He mentioned that UDAY is a “win-win” for all the participants and after almost nine months since it was tabled, all the states are on-board this proposal. He also gave an insight into the benefits of this scheme as according to him, “India will save ₹1,80,000 crore through UDAY annually and one will see prices fall at the end of full implementation of UDAY.” Watch the complete interview here-

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