Indian power distributors have losses of $46 bn: Verrappa Moilyhttps://indianexpress.com/article/news-archive/web/indian-power-distributors-have-losses-of-46-bn-verrappa-moily/

Indian power distributors have losses of $46 bn: Verrappa Moily

Indian power distributors had accumulated losses of Rs 2.46 trillion up to the end of the fiscal year.

Indian power distributors had accumulated losses of 2.46 trillion rupees ($46 billion) up to the end of the fiscal year ending March 2012,Power Minister Veerappa Moily said on Tuesday.

Moily was speaking a day after the Indian government approved a bailout package for the distributors,driven into debt by years of populist policies,corruption and mismanagement.