NEW DELHI (Reuters) - India approved a rescue package for its loss-making electricity utilities on Thursday, the power minister said, a move Prime Minister Narendra Modi hopes will increase the supply of power and help spur economic growth.
Power Minister Piyush Goyal said after a meeting of the cabinet that the government had cleared the package, which it has been working on for several months, to ease the financial crunch at state-owned utility companies.
(Reporting by Tommy Wilkes and C.K. Nayak; Editing by Malini Menon)
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