Grants only if states adopt procedures, says R K Singh

Power and renewable energy minister R K Singh said the government will usher in a wave of reforms with policy and regulatory interventions to create a viable power sector for investors and consumers. In an interview with Himangshu Watts and Sarita Singh, he said the Centre was not siding with the erstwhile N Chandrababu Naidu regime but was concerned about investment sentiments since Andhra Pradesh was on a power contract cancellation spree. Singh said the power ministry will withstand pressure but not let power flow from August 1 to states that do not submit bank guarantees. Excerpts:

How do you plan to overcome challenges in implementation of the recent order on letters of credit to set right defaulting discoms?