Monday, 25 April 2016

RBI must consult with govt over UDAY scheme

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The Reserve Bank of India (RBI) should talk to the government over the Ujwal Discom Assurance Yojana (UDAY) scheme, said Minister of Power and Coal. 

RBI, in a recent report contradicting the government, had said the discom scheme will have an adverse impact on the financials of state governments. 

 “I do wish they (RBI) would talk to us and we will be able to satisfy them that the UDAY scheme is a win-win for everybody including the states,” 

A committee headed by former Central Vigilance Commissioner VC Pratyush Sinha along with former bankers and regulators have been formed to look into the government’s five ultra mega power projects (UMPP), announced in the 2015 Budget.

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