Jharkhand government has signed an agreement with the Union Power Ministry to revive the debt-stressed power distribution companies, which will offer the state a net benefit of approximately Rs 5,300 crore.

The central and state governments and JBVNL (Jharkhand Bijli Vitran Nigam Ltd) have signed a memorandum of understanding under the scheme — Ujjwal Discom Assurance Yojna — for operation and financial turnaround of JBVNL.

The Chief Minister said that “in coming years, we want to make Jharkhand a power and IT hub and our government is working in this direction”.