India plans $35 billion power reforms to revive ailing utilities
NEW DELHI : India is planning another wave of reforms aimed at turning around its struggling power retailers.
The initiative is still under consideration, a power ministry spokeswoman said Tuesday, declining to provide details. The reforms could cost as much as 2.5 trillion rupees ($35 billion) over five years, according to people with knowledge of the issue.
The measures would focus on infrastructure and technology upgrades of the ailing utilities to make them more efficient and reduce financial losses, according to the people, who asked not to be identified as the information isn’t public. The efforts could include central government grants of as much as 1 trillion rupees to states that meet targets set by New Delhi, they said.
