The Indian power sector has been facing serious functional problems during the past few decades. In order to re-vitalise the sector and to improve its techno-economic performance, Government of India has initiated restructuring process in 1991. This paper reviews the performance of the Indian power sector in the last decade (1991-2001), while undergoing the restructuring process. The study also examines how far the restructuring process during this period has been effective in realising its set objectives and benefited the social development of the Nation. A critical evaluation of the methodology and steps so far adopted for the restructuring process and a few suggestions for re-framing the future course of reforms also have been proposed in this paper. (C) 2003 Elsevier Ltd. All rights reserved.