FE Editorial : Power’s UPs and downs
It would, however, be a good idea not to read too much into the matter. For one, state regulators have now been told in no uncertain terms that they need to do their jobs—which means, they have to push the UP Power Corporations to try and balance their books and for states to pay up their dues for subsidy payments made to farmers or households. Two, since UP needs increased supplies of electricity if it wants to attract industry, or even to woo voters in the event of a September election, the state has no option but to sign on to the power reforms package. It is possible that, over the medium term, as has happened in all such power reforms packages in the past, the state will default on its commitment. But, for now, chances are the chief minister and his party will come around to
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