Top headlines: LPG price hiked; govt clarifies on discom loss levels

Business Standard brings you the top headlines this evening

Speculations of discom loss levels at Rs 90,000 cr grossly inflated: Govt

The Ministry of Power said on Wednesday that reports about power distribution companies (discoms) achieving loss levels of Rs 90,000 crore in FY2021 seem to be grossly inflated.

Media reports relying on this misleading projected figures of discom losses by ICRA do not take into cognizance the fact that under the current regulatory system of electricity tariff determination, a mechanism of true-up's already exists that would allow recoveries of losses arising due to change in consumer category-wise consumption patterns coming with Covid induced lockdowns to be covered through