__________ is one of the well-known schemes sponsored by the Union Government of India. It was launched in November 2015 with the aim of rescuing the country’s ailing electricity distribution companies.

The correct option is Ujwal DISCOM Assurance Yojana.

Ujwal DISCOM Assurance Yojana (UDAY) was launched by the Ministry of Power, Government of India, in November 2015. The primary objective of this financial turnaround scheme was to rescue the financially stressed electricity distribution companies (DISCOMs) in the country and find a permanent solution to their operational and financial inefficiencies.

Key highlights of the UDAY scheme include:

1. Financial restructuring of state DISCOMs by allowing state governments to take over a major portion of their debt.

2. Improving operational efficiencies through measures such as smart metering, feeder segregation, and reduction of Aggregate Technical and Commercial (AT&C) losses.

3. Ensuring affordable and reliable 24x7 power supply for all consumers across India.