New Delhi: In a major decision, the Cabinet Committee on Economic Affairs (CCEA) on Monday evening cleared the restructuring plan of the state electricity boards. Sources say the states can now covert all loans into equity.
The association of power producers has welcomed the move calling it a step in the positive direction.
Sources say the government has cleared the proposal to restructure debt worth nearly Rs 2 lakh crore of state electricity boards, giving a boost to the ailing power sector. The plan for restructuring the debt of discoms has been in the works for some time now.
The Power Ministry had earlier prepared a Cabinet note on the issue. It reworked the proposal, reportedly after the Finance Ministry expressed reservations....more
07:23 PM, Sep 24, 2012