Indian power distributors have losses of $46 bln - minister
NEW DELHI, Sept 25
NEW DELHI, Sept 25 (Reuters) - Indian power distributors had accumulated losses of 2.46 trillion rupees ($46 billion) up to the end of the fiscal year ending March 2012, Power Minister Veerappa Moily said on Tuesday.
Moily was speaking a day after the Indian government approved a bailout package for the distributors, driven into debt by years of populist policies, corruption and mismanagement. ($1 = 53.5100 Indian rupees) (Reporting by Sanjeev Choudhary; Editing by Devidutta Tripathy)