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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.

Written by Agencies | New Delhi | Published: September 25, 2012 12:55:41 pm

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.

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