In November 2015 the Government had launched UDAY scheme According to the Economic Survey 2016 17 th...........

Economic Affairs Public Finance and Debt Management

In November 2015, the Government had launched UDAY scheme. According to the Economic Survey 2016-17, the state government finances are under stress and the consolidated deficit of the states has increased steadily in part because of the UDAY scheme. What is UDAY?

It is a scheme to provide a permanent solution for financial turnaround and revival of Power Distribution companies (discoms).

It is a scheme to provide financial aid and assistance to the physically disabled population of the states

It is a scheme for accelerating the irrigation projects of the states

It is a scheme to improve the financial condition of the local governments, both rural and urban

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Explanation:

1st option is correct.
Ujwal DISCOM Assurance Yojana (UDAY) is the financial turnaround and revival package for electricity distribution companies of India (DISCOMs) initiated by the Government of India with the intent to find a permanent solution to the financial mess that the power distribution is in.