The government has approved a bailout for cash-strapped power distributors, a cabinet minister said on Monday.
The minister, who was speaking after a cabinet meeting, spoke on condition of anonymity. Details of the bailout package were not immediately available.
Years of populism, corruption and mismanagement have driven the power distributors, most of them state-owned, deep into the red. They had accumulated 926 billion rupees in losses by the end of the 2010/11 financial year, according to government data.
