It seems that Delhi Chief Minister Arvind Kejriwal is never far away from controversy as his government find itself mired in another political storm after the Shunglu Committee charged his government of illegal allotment of land, unauthorised foreign trips and charges of nepotism.
Delhi Congress chief Ajay Maken today claimed Najeeb Jung had to resign because he had planned to make public the Shunglu Committee report and alleged there was a "deal" between BJP and AAP on the matter.
On the issue of bad debt facing power companies, SK Tuteja of the Shunglu Committee tells CNBC-TV18 that one of the recommendations is that half of the 50% of the total loans that banks have will be restructured into long-term bonds.
Indian Power sector is in crises. It is not only a sectoral challenge but now has become a national challenge. The Shunglu Committee has said that Discom (distribution companies) losses are over Rs 100,000 crore and largely funded by the banks, so even the banks will have an issue.
Fitch Ratings has come out with its outlook on Indian Power. The rating agency expects the power sector reforms - required to restore the financial viability of state power utilities (SPUs) - to gain traction during 2012.
SK Tuteja, panel member of the Shubglu Committee spoke to CNBC-TV18 about the recommendations made and the possible solutions to issues of the power sector.