The government is close to resolving bad loans made in the power industry for companies that owe money and are not avoiding repayment on purpose, power minister Piyush Goyal told reporters on Monday.
“We are close to resolution of stressed thermal power projects soon where developers are not wilful defaulters,” Goyal said while speaking about three years of the government’s performance.
Bad loans in the power sector continue to weigh on India’s banks, and the government has been looking for ways to help ease the pain for companies struggling to service their debts.
Signalling the intent of the government, Goyal said the ministry is doing its job to revive stalled and stressed thermal and hydro power projects.
The power ministry, which is also working on reviving stalled hydro projects, already had extensive discussions with bankers and stakeholders.
Credit – The Hindustan Times