Karnataka and Goa have signed an agreement to join the UDAY scheme for the revival of discoms. Both States may be benefited about four thousand five hundred seventy crores rupees from this scheme over next 3 years. <br/><br/>Power Minister Piyush Goyal said in a tweet that Karnataka signed UDAY MoU resulting in gains of about 4,300 crores rupees over the next 3 years. Goa will also gain around 270 crore rupees though UDAY reforms. <br/><br/>Government had earlier said that the Power Ministry would soon approach the Cabinet to seek approval for enabling private sector electricity distribution companies (discoms) to get operational benefits of the Ujwal DISCOM Assurance Yojana (UDAY). <br/><br/>Under this scheme for reviving financially stressed electricity distribution utilities, state governments takeover 75 per cent of the debt with the electricity distribution utilities. The remaining debt is issued as discom bonds, backed by state governments.