Reform-linked borrowings have provided the necessary impetus for reforms in the power sector in many states in the country. According to the latest figures released by the Ministry of Finance, five more states – Bihar, Goa, Karnataka, Rajasthan, and Uttarakhand – have met the target of reduction in Aggregate Technical and Commercial (AT&C) losses or achieved the targeted reduction in Average Cost of Supply and Average Revenue Realization (ACS-ARR) gap.