Stiff divestment target of Rs 2.10 lakh-cr to finance govt
5 years, 1 month ago

Stiff divestment target of Rs 2.10 lakh-cr to finance govt

Deccan Chronicle  

Mumbai: Stiffer divestment target of Rs 2.10 lakh crore, double of current fiscal year target of Rs 1.05 lakh crore and higher than even last five years divestment receipts surprised everyone. “A tall divestment target will be keenly monitored but signifies a big intent towards fiscal prudence,” said Sailesh Raj Bhan, deputy CIO — Equity Investments, Nippon India Mutual Fund. As on March 31, 2019, the Government had realised Rs 84,972.16 crore as disinvestment proceeds against the budget estimate of Rs 80,000 crore during the financial year 2018-19. Government is targeting Rs 90,000 crore divestment receipt from financial entities including the initial public offering from LIC and sale of remaining stake in IDBI Bank.

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History of this topic

Centre may raise about ₹10,000 crore in FY25 divestment, largely from OFS route
2 weeks, 5 days ago

Centre may raise about ₹10,000 crore in FY25 divestment, largely from OFS route

Live Mint  

New Delhi: The government is likely to raise about ₹10,000 crore from divestment proceeds in FY25, with a large bulk coming from the Offer for Sale route, two people aware of the matter said. "It is reasonable to expect about ₹9,000crore- ₹10,000 crore from divestment proceeds during 2024-25," the second person mentioned above said, requesting anonymity. During January 2024, Mint …

5 PSU banks may see government stake sale of up to 20%: Report
3 weeks, 4 days ago

5 PSU banks may see government stake sale of up to 20%: Report

India Today  

The government is planning to sell up to 20% of its stake in five public sector banks over the next four years, according to a report by Business Standard. The stake sale in public banks is aimed at meeting the Securities and Exchange Board of India’s minimum public shareholding norms, which require listed companies to have at least 25% of …

Properties worth Rs 22,280 crore of eco-offenders like Mallya, Nirav Modi restored by ED: Nirmala Sitharaman
3 months ago

Properties worth Rs 22,280 crore of eco-offenders like Mallya, Nirav Modi restored by ED: Nirmala Sitharaman

New Indian Express  

NEW DELHI: Finance Minister Nirmala Sitharaman has listed several major cases where the Directorate of Enforcement has from time to time attached properties of individuals and companies connected to economic offence cases. Replying to the debate on Supplementary Demands for Grants - First Batch for 2024-2025, the finance minister apprised the Lok Sabha Tuesday evening that the central enforcement agency …

Mint Quick Edit | IDBI Bank’s stake sale: Progress at last
8 months ago

Mint Quick Edit | IDBI Bank’s stake sale: Progress at last

Live Mint  

The Reserve Bank of India has reportedly certified bidders for IDBI Bank as “fit and proper", paving the way for the government to sell a big equity stake in the bank. With this long-awaited clearance out of the way, the Centre will now grant qualified bidders access to confidential bank data for their assessment. This is a shot in the …

CPSEs hold a divestment potential of Rs 11.5 lakh crore
8 months, 2 weeks ago

CPSEs hold a divestment potential of Rs 11.5 lakh crore

Deccan Chronicle  

Chennai: The government has a divestment potential of Rs 11.5 lakh crore in central public sector companies, public sector banks and insurance companies at the current market capitalization. CareEdge’s analysis based on 59 major listed CPSEs and 15 listed PSBs aånd insurance companies where the government holds more than a 51 per cent stake, finds that the government can achieve …

Govt to reissue bid for asset valuer for IDBI Bank sale
1 year, 4 months ago

Govt to reissue bid for asset valuer for IDBI Bank sale

Live Mint  

New Delhi: The Department of Investment and Public Asset Management on Tuesday scrapped the bid for an asset valuer for the strategic disinvestment of IDBI Bank, issued in September, and plans to issue a new request for proposal, a move that may delay the bank's disinvestment initiative begun earlier this year. On 1 September, DIPAM had invited request for proposal …

Bank deposits increase by Rs 24,102cr in quarter
1 year, 7 months ago

Bank deposits increase by Rs 24,102cr in quarter

Deccan Chronicle  

HYDERABAD: Total deposits in banks increased by Rs24,102 crore in the quarter, taking the total deposits to Rs7,07,108 crore, SBI’s chief general manager stated in the State Level Bankers’ Committee meeting on Monday for a review of the quarter ended June 2023. During the first quarter of the current financial year, banks have disbursed short-term production loans amounting to Rs11,929 …

SBI to divest its 2% equity stake in NSDL IPO via OFS
1 year, 8 months ago

SBI to divest its 2% equity stake in NSDL IPO via OFS

Live Mint  

State Bank of India today said it proposes to sell 2% stake by offloading 40 lakh shares in depository organisation NSDL. State Bank of India proposes to participate in an Initial Public Offering of National Securities Depositories Limited by way of offer for sale of up to 2% equity stake held by the Bank in NSDL. SBI holds 5 per …

IDBI Bank privatisation on track, says DIPAM Secretary
2 years ago

IDBI Bank privatisation on track, says DIPAM Secretary

Live Mint  

The government has said the disinvestment of IDBI Bank is on track as per the defined process. The Department of Investment and Public Asset Management, which manages government holding in state-owned enterprises, on Friday said that the media reports on speculations that the government might defer the $4 billion IDBI Bank divestment plan are misleading. The government and the LIC …

Govt. gets multiple preliminary bids for buying 61% stake in IDBI Bank
2 years, 2 months ago

Govt. gets multiple preliminary bids for buying 61% stake in IDBI Bank

The Hindu  

The government has received multiple preliminary bids for strategic sale of about 61% stake in IDBI Bank. "Multiple Expressions of Interest received for the Strategic Disinvestment of Govt and LIC Stake in IDBI Bank," Department of Investment and Public Asset Management Secretary Tuhin Kanta Pandey tweeted. The government and LIC together are looking to sell 60.72% in IDBI Bank and …

Govt aims lower after missing high divestment target
2 years, 4 months ago

Govt aims lower after missing high divestment target

Live Mint  

NEW DELHI : The Union government, projected to miss the disinvestment target for the fourth year in a row, may aim to raise a more “realistic" ₹30,000-40,000 crore via stake sales in state-run companies in the year starting 1 April, significantly lower than the current year’s ₹65,000 crore. Read the fine print on govt's big capital expenditure What you gain …

A wary govt adopts 2-stage process for IDBI stake sale
2 years, 5 months ago

A wary govt adopts 2-stage process for IDBI stake sale

Live Mint  

The government may take a two-stage approach to privatize IDBI Bank, examining the eligibility of potential bidders in the first stage, followed by a second stage where transaction advisers will take charge of the sale. The government is also cautious following legal troubles in the strategic disinvestments of Pawan Hans, Central Electronics Ltd and HLL Lifecare. The strategic sale of …

BPCL Disinvestment: Govt Not To Go Ahead With Current Plan; To Draw New Strategy, Says Anil Agarwal
2 years, 11 months ago

BPCL Disinvestment: Govt Not To Go Ahead With Current Plan; To Draw New Strategy, Says Anil Agarwal

News 18  

Vedanta Resources Chairman Anil Agarwal said the government has decided not to go ahead with Bharat Petroleum Corporation Ltd’s privatisation plan and has told its suitors that it will revise the plan and come to market. Recently, Minister of State for Finance Bhagwat Karad told in the Rajya Sabha that the disinvestment process of oil marketing firm Bharat Petroleum Corporation …

Budget 2022: FY23 disinvestment receipts pegged at Rs 65K cr; receipts for current year cut to Rs 78K cr
3 years, 1 month ago

Budget 2022: FY23 disinvestment receipts pegged at Rs 65K cr; receipts for current year cut to Rs 78K cr

India TV News  

Highlights The big-ticket disinvestment of Life Insurance Corporation is in the works The government has missed the disinvestment target for three consecutive years In 2020-21, the government had mopped up Rs 37,897 crore The government's receipt from disinvestment proceeds in the next financial year beginning April has been pegged at Rs 65,000 crore, lower than the current year's estimated mobilisation …

Opinion | No dearth of privatisation critics but Centre must go ahead with PSU sale in 2022
3 years, 2 months ago

Opinion | No dearth of privatisation critics but Centre must go ahead with PSU sale in 2022

Firstpost  

Just like the strategic sale of Balco in 2001, when the government sold its 51 percent equity in the aluminum major, galvanised privatisation in the country, Air India sale has the potential of accelerating the pace of disinvestment. From Air India privatisation and other minority stake sales, the government has mopped up Rs 9,240 crore, according to the Department of …

Govt effectively cuts borrowing target for FY22
3 years, 5 months ago

Govt effectively cuts borrowing target for FY22

Hindustan Times  

Buoyed by robust tax collections, the government on Monday effectively cut its gross borrowing target for the fiscal year by announcing that it will absorb ₹1.59 lakh crore of additional borrowing for tax compensation to states within its annual target. This, in effect, reduces the annual gross borrowing target to ₹10.46 lakh crore for the year to March 31 from …

LIC IPO: Govt invites bids from merchant bankers, legal advisors for public offer
3 years, 8 months ago

LIC IPO: Govt invites bids from merchant bankers, legal advisors for public offer

India TV News  

Kickstarting the process for LIC disinvestment, the government has invited bids from merchant bankers and legal advisors for advising it on the proposed mega initial public offer. The Department of Investment and Public Asset Management would appoint up to ten merchant bankers and one legal firm for assisting and advising on the stake sale. Last week, the Union Cabinet approved …

The limits to India’s privatization push
4 years ago

The limits to India’s privatization push

Live Mint  

About 10 days after the central government iterated on the floor of Parliament its resolve to privatize businesses owned by it on a scale and sweep never done before, Anil Agarwal announced his Vedanta Group would set up a $10 billion fund to invest in them. The government gave an “in-principle" agreement for disinvestment in 34 CPSEs, and minority stake …

Budget 2021: Disinvestment target for FY22 pegged at Rs 1.75 lakh crore
4 years, 1 month ago

Budget 2021: Disinvestment target for FY22 pegged at Rs 1.75 lakh crore

India Today  

To fill its depleted coffers impacted by the Covid-19 pandemic, Finance Minister Nirmala Sitharaman on Monday announced Rs 1.75 lakh crore as the disinvestment target for FY 2021-22. She said strategic sale of IDBI Bank, BPCL, Shipping Corp, Container Corporation, Neelachal Ispat Nigam Ltd, Pawan Hans, Air India among others, would be completed in 2021-22 fiscal year beginning April 1. …

Govt Selects Milliman Advisors to Ascertain LIC's Embedded Value Ahead of IPO
4 years, 2 months ago

Govt Selects Milliman Advisors to Ascertain LIC's Embedded Value Ahead of IPO

News 18  

The government has selected actuarial firm Milliman Advisors for ascertaining embedded value of LIC, ahead of its initial public offer. The government plans to sell minority stake in insurance behemoth Life Insurance Corporation and list it on the bourses, and has already appointed Deloitte and SBI Caps as pre-IPO transaction advisors. In a tweet, Department of Investment and Public Asset …

Air India Divestment: Intimation Date for Qualified Interested Bidders Extended to Jan 5
4 years, 3 months ago

Air India Divestment: Intimation Date for Qualified Interested Bidders Extended to Jan 5

News 18  

The government on Thursday said it will intimate qualified interested bidders of Air India on January 5 next year, instead of the earlier decided date of December 29, 2020. The Department of Investment and Public Asset Management on Thursday issued a tenth corrigendum to global invitation for Expression of Interest for the proposed strategic disinvestment of Air India Ltd stating …

Govt Plans Further Stake Sale in IRCTC, Invites Bids from Merchant Bankers by September 10
4 years, 7 months ago

Govt Plans Further Stake Sale in IRCTC, Invites Bids from Merchant Bankers by September 10

News 18  

The government is planning to sell part of its stake in Indian Railway Catering and Tourism Corp in the current fiscal, and has invited bids from merchant bankers for managing the sale process. Of this, Rs 1.20 lakh crore will come from disinvestment of public sector undertakings and another Rs 90,000 crore from stake sale in financial institutions. DIPAM, which …

Govt to Go Ahead with Divestment of 23 PSUs Cleared by Cabinet, Says Nirmala Sitharaman
4 years, 7 months ago

Govt to Go Ahead with Divestment of 23 PSUs Cleared by Cabinet, Says Nirmala Sitharaman

News 18  

The government is working on completing the stake sale process of about 23 public sector companies whose divestment has already been cleared by the Cabinet, Finance Minister Nirmala Sitharaman said on Monday. Talking about disinvestment plans, the minister said the government wants to sell stake in public sector companies at a time when it fetches the right price. Of this, …

COVID-19 fallout: LIC listing, IDBI Bank stake sale may be postponed
4 years, 9 months ago

COVID-19 fallout: LIC listing, IDBI Bank stake sale may be postponed

India TV News  

Listing of Life Insurance Corporation and sale of government's stake in IDBI Bank may be delayed beyond March 2021, due to depressed valuation amid COVID-19 pandemic. The government aims to garner Rs 90,000 crore from the listing of LIC and stake dilution in IDBI Bank out of total the disinvestment target of Rs 2.10 lakh crore during the current fiscal. …

BPCL disinvestment: Govt invites bids to sell its 52.98 percent stake
5 years ago

BPCL disinvestment: Govt invites bids to sell its 52.98 percent stake

India TV News  

In another Public sector companies disinvestment drive, the government on Saturday invited bids to sell its entire 52.98 percent stake in India's second-biggest oil refiner Bharat Petroleum Corp Ltd. "The Government of India is proposing strategic disinvestment of its entire shareholding in BPCL comprising 114.91 crore equity shares, which constitutes 52.98 percent of BPCL's equity share capital, along with transfer …

Govt sets ball rolling to sell part of stake in LIC
5 years, 1 month ago

Govt sets ball rolling to sell part of stake in LIC

Live Mint  

New Delhi: The government has initiated preparations for the mega initial share sale of state-owned Life Insurance Corporation of India and would take about a year to complete the transaction as the process may involve amending several laws. An interministerial committee will be set up comprising officials from the department of investment and public asset management, department of financial services …

Government sets ₹2.1 trillion disinvestment target
5 years, 1 month ago

Government sets ₹2.1 trillion disinvestment target

Live Mint  

The Narendra Modi administration has set an ambitious ₹2.1 trillion goal for the sale of government holding in state-run companies after scaling down the target for the current fiscal ending March, hoping the work done so far will result in deals in subsequent months. The disinvestment target for FY21 includes ₹90,000 crore to be raised from an initial public offer …

Air India, BPCL, Container Corporation divestments 'unlikely' this fiscal; govt preparing financial statements: Official
5 years, 2 months ago

Air India, BPCL, Container Corporation divestments 'unlikely' this fiscal; govt preparing financial statements: Official

Firstpost  

Similarly, on Container Corporation and Air India as well, the official said that the sales will not go through in the current fiscal ending 31 March. Mumbai: In what can potentially hurt the fiscal math for the ongoing fiscal, a senior government official said strategic divestments in Air India, BPCL and Container Corporation are “unlikely” to be completed in FY20. …

What the BPCL stake sale says about the future of India’s disinvestment policy | The Hindu Parley podcast
5 years, 3 months ago

What the BPCL stake sale says about the future of India’s disinvestment policy | The Hindu Parley podcast

The Hindu  

Last month, the Union Cabinet gave its approval for the privatisation of Bharat Petroleum Corporation Limited, a profitable Maharatna public sector company that does oil refining and marketing. This large-scale disinvestment — the BPCL stake alone is expected to raise around ₹60,000 crore for the Exchequer this year — will certainly ease the fiscal pressures being faced by the country. …

Two-phased strategic disinvestment for BPCL likely
5 years, 4 months ago

Two-phased strategic disinvestment for BPCL likely

Live Mint  

New Delhi: The government may consider two-phased disinvestment for public sector oil refiner and retailer Bharat Petroleum Corporation Ltd, if the initial strategic sale of the entire 53.29% government stake in the company fails to get requisite response. Thus, the government may sell half or around 26-27% of its share first and consider complete exit from BPCL at a later …

Govt aims to reduce stake in state-run firms to minimum in FY20 to meet disinvestment target figure of Rs 1.05 lakh cr
5 years, 8 months ago

Govt aims to reduce stake in state-run firms to minimum in FY20 to meet disinvestment target figure of Rs 1.05 lakh cr

Firstpost  

The government will initiate privatisation of CPSEs as it sets a record high disinvestment target of Rs 1.05 lakh crore that will see the government lowering its stake in some CPSEs to below 51%. New Delhi: The government will attempt to cut its shareholding in state-run companies in 2019/20 to the minimum required under the rules, a government official said, …

Govt exploring if it can cede control in CPSEs on case-to-case basis (LD Disinvestment)
5 years, 8 months ago

Govt exploring if it can cede control in CPSEs on case-to-case basis (LD Disinvestment)

India TV News  

The Union Budget on Friday hiked the disinvestment target for the year to Rs 1,05,000 crore, up from Rs 90,000 set in the interim Budget. The disinvestment target for 2019-20 is Rs 1.05 lakh crore," said Finance Minister Nirmala Sitharaman, while presenting the Budget in the Lok Sabha on Friday. The government has decided to modify the present policy of …

Budget hikes divestment target to Rs 1.05 lakh crore
5 years, 8 months ago

Budget hikes divestment target to Rs 1.05 lakh crore

India TV News  

The government on Friday hiked its disinvestment target in the current fiscal from Rs 90,000 crore to Rs 1.05 lakh crore. Announcing this in her Budget speech, Finance Minister Nirmala Sitharaman said: "We have enhanced the target for disinvestment receipts in FY20 to Rs 1.05 lakh crore. The hike in the sell-off target comes amid the slow growth in tax …

Government banks on ETFs to sail through tough disinvestment target
5 years, 8 months ago

Government banks on ETFs to sail through tough disinvestment target

Live Mint  

New Delhi: The government will depend heavily on resource mobilisation by selling its stake in public sector banks through the newly launched financial sector ETFs. The total subscription received by the Centre from various ETFs launched so far stands at ₹1.87 lakh crores and of this government has retained over ₹51,000 crores in the last five years, said DIPAM in …

Govt to divest 25% in RailTel Corporation, invites bids from merchant bankers to manage IPO
5 years, 10 months ago

Govt to divest 25% in RailTel Corporation, invites bids from merchant bankers to manage IPO

Firstpost  

The government will appoint up to three merchant bankers to manage the listing process and has invited bids from them by 11 June New Delhi: The government is looking to divest up to 25 percent stake in RailTel Corporation, and is scouting for merchant bankers to manage the listing process. The government will appoint up to three merchant bankers to …

Govt plans to divest up to 15% in RITES via OFS, eyes to raise about Rs 700 cr; DIPAM to assist in sale process
5 years, 10 months ago

Govt plans to divest up to 15% in RITES via OFS, eyes to raise about Rs 700 cr; DIPAM to assist in sale process

Firstpost  

At the current market price, sale of 15 percent stake in RITES would fetch around Rs 700 crore to the government. New Delhi: The government is planning to divest up to 15 percent stake in railway public sector undertaking RITES through an offer for sale, which could fetch around Rs 700 crore to the exchequer. Railways consultancy firm RITES got …

First-ever sale of 'enemy shares'; buyback by CPSEs yield over Rs 11,300 cr to exchequer in FY19
5 years, 11 months ago

First-ever sale of 'enemy shares'; buyback by CPSEs yield over Rs 11,300 cr to exchequer in FY19

Firstpost  

Enemy property refers to the assets left behind by people who migrated to Pakistan or China and are no longer citizens of India. New Delhi: Sale of ’enemy shares’ and buyback of stocks by Central Public Sector Enterprises have together yielded the government over Rs 11,300 crore, thus helping the exchequer mop up Rs 85,000 crore from disinvestment in the …

Modi government exceeds disinvestment target for the second time in a row, completes first-ever sale of ‘enemy shares’
6 years ago

Modi government exceeds disinvestment target for the second time in a row, completes first-ever sale of ‘enemy shares’

Op India  

The sale of ‘enemy shares’ and the buybacks of Central Public Sector Enterprises have together generated a sum of Rs 11,300 crore for the government, thus helping the exchequer mop up Rs 85,000 crore from disinvestment in the current financial year. After the Cabinet’s go-ahead to the Department of Investment and Public Asset Management to sell such shares held in …

Disinvestment exceeds target at ₹85,000 crore: FM
6 years ago

Disinvestment exceeds target at ₹85,000 crore: FM

Live Mint  

New Delhi: The centre has exceeded its disinvestment target for the fiscal year 2018-19, finance minister Arun Jaitley said on Friday. “As against a target of ₹80,000 crore for disinvestment for the current year, the divestment receipts have touched ₹85,000 crore today,” Jaitley said in a tweet. In the fiscal year 2017-18, the government had exceeded the target of ₹1 …

Budget 2018: Arun Jaitley reveals govt mops up Rs 1 lakh cr via divestment this year; aims Rs 80,000 cr in FY19
7 years, 1 month ago

Budget 2018: Arun Jaitley reveals govt mops up Rs 1 lakh cr via divestment this year; aims Rs 80,000 cr in FY19

Firstpost  

New Delhi: The government expects to raise Rs 80,000 crore from PSU disinvestment in the next fiscal, lower than Rs 1 lakh crore raised this financial year. In the Budget for 2018-19, Finance Minister Arun Jaitley said the Department of Investment and Public Asset Management will move forward to bring in more Exchange Traded Fund, including launching a debt fund. …

Govt unveils details of recapitalisation plans for PSBs, assures customers their money is safe with banks
7 years, 1 month ago

Govt unveils details of recapitalisation plans for PSBs, assures customers their money is safe with banks

India TV News  

Govt unveils details of recapitalisation plans for PSBs, assures customers their money is safe with banks The Government today announced that it will infuse Rs 2.11 lakh crores in public sector banks to provide them relief from mounting pressures of non-performing assets. The Finance Minster Arun Jaitley on Wednesday revealed the details of Rs 2.11 lakh crore recapitalisation plan for …

Govt set to hit divestment goal for first time post ONGC-HPCL deal
7 years, 2 months ago

Govt set to hit divestment goal for first time post ONGC-HPCL deal

Live Mint  

New Delhi: The government is all set to cross annual disinvestment target this fiscal for the first time with Oil and Natural Gas Corp. Ltd buying the centre’s entire 51% stake in Hindustan Petroleum Corp. Ltd for Rs36,915 crore. In the Union Budget presented on 1 February last year, finance minister Arun Jaitley had set the target of disinvestment in …

Govt set to hit divestment goal first time post ONGC-HPCL Rs 36,915 cr deal
7 years, 2 months ago

Govt set to hit divestment goal first time post ONGC-HPCL Rs 36,915 cr deal

India TV News  

The government is all set to cross annual disinvestment target this fiscal for the first with ONGC buying the Centre's entire 51 per cent stake in HPCL for Rs 36,915 crore. The higher receipt from disinvestment will help the government in sticking to its fiscal deficit target of 3.2 per cent of the GDP this financial year, which may see …

Recapitalisation plan: Govt to infuse Rs 7,577 cr in 6 weak state-run banks under Indradhanus plan
7 years, 2 months ago

Recapitalisation plan: Govt to infuse Rs 7,577 cr in 6 weak state-run banks under Indradhanus plan

Firstpost  

New Delhi: The finance ministry has approved proposal for infusion of Rs 7,577 crore in 6 weak public sector banks as part of the recapitalisation plan to bolster capital adequacy ratio. Kolkata-based UCO Bank on Wednesday announced approval of board for the proposal to issue equity shares on preferential basis to the government against capital contribution of Rs 1,375 crore …

Govt to push ahead with banking reforms in new year; to infuse fresh capital in PSBs
7 years, 2 months ago

Govt to push ahead with banking reforms in new year; to infuse fresh capital in PSBs

Firstpost  

“Reform agenda is the highest priority which has to be implemented along with capitalisation. New Delhi: The government is likely to push ahead with banking sector reforms alongside infusion of fresh capital in state-owned lenders in the new year as it looks to lift banks out of NPA crisis and revive lending growth from a 25-year low. The government in …

Vijay Mallya diverted most of Rs 6,000 cr loan via shell firms; CBI, ED to give details to UK court
7 years, 5 months ago

Vijay Mallya diverted most of Rs 6,000 cr loan via shell firms; CBI, ED to give details to UK court

Firstpost  

Mumbai: In a bid to strengthen the evidence to extradite fugitive liquor baron Vijay Mallya, the Central Bureau of Investigation and the Enforcement Directorate are preparing a charge sheet alleging he laundered a major chunk of the Rs 6,000 crore bank loans taken for Kingfisher Airlines. At present, in front of the UK court, the agencies have presented the charge …

To keep fiscal deficit under check, govt plans to raise $5.4 bn via stake sale in seven state-run firms
7 years, 11 months ago

To keep fiscal deficit under check, govt plans to raise $5.4 bn via stake sale in seven state-run firms

Firstpost  

The part sale of government stakes in state-run and private firms is critical to meet the fiscal deficit target of 3.2 percent of gross domestic product in the year to March 2018 The Centre plans to sell stakes worth $5.4 billion in seven state-run companies during the current financial year as Asia’s third-largest economy looks to fund its fiscal deficit …

Centre strategises disinvestment plan for 22 PSUs
8 years, 5 months ago

Centre strategises disinvestment plan for 22 PSUs

India TV News  

In a bid to achieve a full-year disinvestment target of Rs 56,500 crore, Modi government has prepared a plan for disposal of controlling stakes in 22 listed and unlisted companies. According to a report in The Economic Times,large state-run companies such as Container Corporation of India, Bharat Earthmovers, as many as three plants of the Steel Authority of India and …

Niti Aayog working on second list of PSU divestment
8 years, 6 months ago

Niti Aayog working on second list of PSU divestment

Firstpost  

In June, the think tank had submitted to the government the roadmap for closure and strategic sale of government stake in some PSUs New Delhi: After submission of the first list of PSUs for closure or sell off to the government, Niti Aayog is now working on another list for disinvestment. In June, the think tank had submitted to the …

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