Cabinet approves Rs. 1.90-lakh crore turnaround package

Consumers nationwide should brace themselves for higher electricity tariffs, with the Cabinet Committee on Economic Affairs (CCEA) on Monday approving a Rs. 1.90-lakh crore debt restructuring package for the State Electricity Boards to facilitate a turnaround of the State distribution companies (discoms). The CCEA, which met under the leadership of the Prime Minister, approved the package that will force the distribution companies, which are in the red, to begin a fresh round of tariff increase.