States prefer power blackouts to tariff hikes

Even when the government announced its proposal to restructure R1.2 lakh crore of short-term power sector loans last September, it was obvious that expecting a dramatic change in the way the sector operated was going to be more than a bit of a stretch. After all, commercial losses of power utilities had more than quadrupled over the last five years to an estimated R80,000 crore in FY12 despite at least three reform packages in this period.

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