The Hindu Explains | How will the new disinvestment policy oversee future of public sector enterprises?
3 years, 10 months ago

The Hindu Explains | How will the new disinvestment policy oversee future of public sector enterprises?

The Hindu  

The story so far: Finance Minister Nirmala Sitharaman, in her Budget speech for 2021-22, announced a new policy for central public sector enterprises, which she said will serve as a clear roadmap for disinvestment of government-owned firms across sectors. The strategic sectors identified at the time for retaining certain public sector entities within the government’s control remain the same in the final policy approved by the Cabinet. This was seen as a clear intent to privatise a huge chunk of India’s large public sector, a legacy from post-Independence policies that placed government firms at the ‘commanding heights’ of the economy. The NITI Aayog has been entrusted with suggesting which public sector firms in strategic sectors should be retained, considered for privatisation or merger or ‘subsidiarisation’ with another public sector firm, or simply closed.

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History of this topic

Advance Action Underway On Privatisation Of State-Run Banks, Says DFS Secretary
2 years, 7 months ago

Advance Action Underway On Privatisation Of State-Run Banks, Says DFS Secretary

ABP News  

New Delhi: Advance action is underway for privatisation of two public sector banks in pursuance of the announcement made by finance minister Nirmala Sitharaman, Department of Financial Services Secretary Sanjay Malhotra said on Monday. In the Union Budget for 2021-22, the government announced its intent to take up the privatisation of two PSBs in the year and approved a policy …

Department of Public Enterprises merger with finance ministry will help push Centre's disinvestment goals, here's why
3 years, 6 months ago

Department of Public Enterprises merger with finance ministry will help push Centre's disinvestment goals, here's why

Firstpost  

The Centre has said that the NITI Aayog has been tasked with coming up with the list of CPSEs that would be taken up for strategic disinvestment The Department of Public Enterprises is now the sixth vertical within the Ministry of Finance after it was unhitched from its parent ministry, the Heavy Industries and Public Enterprises Ministry, ahead of the …

A privatization plan that heralds the rise of the Indian elephant
3 years, 10 months ago

A privatization plan that heralds the rise of the Indian elephant

Live Mint  

One of the many highlights of the Union Budget for 2021-22 was the bold resolve of the government to push for an aggressive privatization policy of public sector enterprises, which would seek to unlock their potential to create wealth in India’s economy. Encouragingly, the government has shown its resolve to go big on PSE stake sales this time around by …

The limits to India’s privatization push
3 years, 10 months 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 …

Narendra Modi pitches for privatisation, assures govt commitment to asset monetisation
3 years, 10 months ago

Narendra Modi pitches for privatisation, assures govt commitment to asset monetisation

Firstpost  

The PM said around 100 under-utilised or un-utilised assets, such as airports, will be monetised to create Rs 2.5 lakh crore of investment opportunities New Delhi: Prime Minister Narendra Modi on Wednesday made his strongest pitch for privatisation of non-strategic PSUs, saying the government has no business to be in business and sustaining loss-making units on taxpayers’ money drains resources …

Niti Aayog's Next List of Companies for Disinvestment in Few Weeks: Rajiv Kumar
3 years, 11 months ago

Niti Aayog's Next List of Companies for Disinvestment in Few Weeks: Rajiv Kumar

News 18  

Niti Aayog will prepare the next list of central public sector companies for disinvestment in the next few weeks, its Vice Chairman Rajiv Kumar said on Thursday and expressed hope that the proposed asset reconstruction and management companies to address banks’ bad loan woes will do a good job like the UTI. “Now the process has begun… We will complete …

Budget 2021: A push to privatise India
3 years, 11 months ago

Budget 2021: A push to privatise India

India Today  

Budget 2021-22 makes a concerted push toward getting the government out of commercial sectors, a move in line with the Narendra Modi government’s stated agenda of minimum government. On this count, finance minister Nirmala Sitharaman has budgeted for revenues of Rs 1.75 lakh crore from stake sales of public sector companies, including two public sector banks and one insurance company. …

Union Budget 2021: Centre likely to unveil blueprint for new privatisation policy
3 years, 11 months ago

Union Budget 2021: Centre likely to unveil blueprint for new privatisation policy

Firstpost  

New Delhi: Finance Minister Nirmala Sitharaman in the Budget next week is likely to unveil a blueprint of a new privatisation policy, where the government will exit PSUs in the non-strategic sector, sources said. The Budget for the fiscal beginning 1 April is likely to identify the strategic sectors PSUs where the government would like to retain its presence, the …

Centre Mulls Closure of PSUs Up for Sale on Case-to-case Basis
4 years, 3 months ago

Centre Mulls Closure of PSUs Up for Sale on Case-to-case Basis

News 18  

The Union government may consider the closure of central public sector units even if they have been approved for strategic disinvestment on a case-to-case basis. In a written reply to a question in the Lok Sabha, Minister of State for Finance Anurag Thakur said that the government follows a policy of closure of centre public sector enterprises in terms of …

20 Central Enterprises and Units in Pipeline for Strategic Sale, Says Anurag Thakur
4 years, 4 months ago

20 Central Enterprises and Units in Pipeline for Strategic Sale, Says Anurag Thakur

News 18  

New Delhi: As many as 20 Central Public Sector Enterprises and their units are at various stages of strategic disinvestment, while six are being considered for closure or are under litigation, Minister of State for Finance Anurag Singh Thakur said on Monday. “Based on the criteria laid down by NITI Aayog, the Government has ’in principle’ approved strategic disinvestment in …

Govt to Go Ahead with Divestment of 23 PSUs Cleared by Cabinet, Says Nirmala Sitharaman
4 years, 5 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, …

All sectors open to private companies, govt to announce new public sector enterprise policy
4 years, 7 months ago

All sectors open to private companies, govt to announce new public sector enterprise policy

India TV News  

Finance Minister Nirmala Sitharaman on Sunday said a new "coherent" public sector enterprises policy will be formulated that will define strategic sectors which will have not more than four PSUs. Sitharaman said all sectors are open to the private sector while public sector enterprises will play an important role in defined areas. List of strategic sectors requiring the presence of …

Economic Survey 2020: Privatised CPSEs reported better profit, sales after transition; aggressive disinvestment promotes efficiency
4 years, 11 months ago

Economic Survey 2020: Privatised CPSEs reported better profit, sales after transition; aggressive disinvestment promotes efficiency

Firstpost  

It observes that the focus of the strategic disinvestment needs to be to exit from non-strategic business and directed towards optimising economic potential of these CPSEs. New Delhi: Most privatised CPSE witnessed improvement in net worth, profit, gross revenue and sales growth after the transition, the Economic Survey has said. Aggressive disinvestment, preferably through the route of strategic sale, should …

Centre likely to consider proposal to reduce stake below 51% in CPSEs soon; Cabinet may decide on merger of state-run insurance firms
5 years, 1 month ago

Centre likely to consider proposal to reduce stake below 51% in CPSEs soon; Cabinet may decide on merger of state-run insurance firms

Firstpost  

The Budget for 2018-19 had proposed the merger of three public sector general insurance companies and subsequent listing of the merged entity on stock exchanges. New Delhi: The Union Cabinet will soon consider a proposal to bring down government stake in central public sector enterprises to below 51 percent even while retaining the state control, sources said. Last week, Finance …

Finance Ministry reworking strategic sale procedure to ensure outright sale of central public sector enterprises
5 years, 8 months ago

Finance Ministry reworking strategic sale procedure to ensure outright sale of central public sector enterprises

Firstpost  

Currently, there is no set timeline for concluding strategic sale of a state-owned company and the entire process, in some cases, drags on for months, if not years. New Delhi: The finance ministry is reworking strategic sale procedure to ensure outright sale of Central Public Sector Enterprises within 4 months of issuance of documents to potential investors, a move aimed …

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