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India considering bailout for indebted power distribution utilities, document says

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India considering bailout for indebted power distribution utilities, document says

Indian government is considering injecting cash into heavily indebted government-owned power distribution utilities, according to a document from the Ministry of Power reviewed by Reuters, to ensure the stability of the sector amid surging power demand.

In the document circulated this week, the ministry mentioned the formation of a group of ministers to identify states that urgently need cash for their utilities, design a “fiscal discipline program to enable them to avoid a debt trap” and suggest measures to bring private investment.

(More details to follow)

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