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$35Billion down the drain


This is in response to this news item: India Considers $35 Billion Debt Revamp After Blackout

Why the F is state utilities' loans being taken on the State government books?

What assurances do the utilities give to assure the state governments that this sorry state will not repeat again? Is government even concerned enough to seek such an assurance? Or is it just a mindboggling scam of pushing the utitlities losses (read caused by political nexus) on to the heads of state taxpayers?


“Restructuring their debt seems to be the only solution. Utilities will look to turn around, while banks will seek to minimize sacrifices.”

This is absolutely crazy! "Seems to be the solution"? So, is this not going work for sure. Ofcourse its not going to work! "Utilities look to turn around" WTF is that! When do you think utilities will have the courage and conscience to turnaround!?? "Banks minimize sacrifices" So, you are basically bailing out the banks? Seems so!


Now that Governments get to finally pay the bills, will they stop the free power to farmers? To reduce the thefts and TD losses? Hell no! Not with the monsoon-deficit and election year excuses.

So finally who gets screwed? Who pays the bill? The Taxpayer.

Meanwhile get ready for downgrades, rupee depreciation, lower growth or whatever. And $35billion down the drain.

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