Disinvestment: Government may sell stake in 3 PSUs

The government aims to raise Rs 36,000 crore revenue from minority stake sales in PSUs in 2016-17. Another Rs 20,500 crore will be raised from strategic stake sales in PSUs.

GN Bureau | July 20, 2016


#stake sale   #PSUs   #disinvestment   #current fiscal  

 The government is moving ahead with the plan for strategic disinvestment of the selected public sector undertakings (PSUs). And there could be at least two-three such stake sales in the current fiscal.

According to a news report in The Financial Express, the idea is to create momentum before accelerating such sales in the remaining period and use the non-debt revenue generated to fund development activities and infrastructure projects. 
 
NITI Aayog, which has been given the task to identify the PSUs for strategic sale, has already submitted two reports: the first identified 74 sick and loss-making companies for action while the second is to have recommended strategic disinvestment of about 30 other companies. The Aayog is preparing a second list of companies for strategic disinvestment to include more companies in the pipeline to be disinvested. In a strategic disinvestment, government stake can come down to below 49 percent in a PSU from up to 100 percent now. However, it could often take a long time to materialise depending on the complexity of the issues and the company involved. 
 
The administrative ministries and the department of investment and public asset management (Dipam) have been asked to work out the details on how to go about the strategic stake sales.
 

Comments

 

Other News

“900 tenders worth Rs 150 crore?” For ward-level works: BMC

BrihanMumbai municipal corporation is floating nearly 900 tenders worth of Rs 150 crore in the next 10 days, but that is only for ward-level civic works, the BMC clarified on Monday, reacting to reports in a section of media.    “Since there are 25 wards in BMC, it involves m

Elections 2024: Banks, post offices to chip in for voter education

In a first-of-its-kind initiative, Election Commission of India (ECI) on Monday signed a memorandum of understanding (MoU) with two prominent organisations, the Indian Banks’ Association (IBA) and the Department of Posts (DoP), to amplify its voter outreach and awareness efforts ahead of the forthcom

Charming tales of the Snakeman’s early years

Snakes, Drugs and Rock ’N’ Roll: My Early Years By Romulus Whitaker with Janaki Lenin HarperCollins, 400 pages, Rs 699

Gripping graphic narrative helps make sense of pandemics past

The Moral Contagion By Julia Hauser and Sarnath Banerjee HarperCollins, 140 pages, Rs 699 The world has lar

“Globally, there is unprecedented positivity for India”

Addressing the Viksit Bharat Viksit Uttar Pradesh program in Lucknow on Monday, prime minister Narendra Modi launched 14,000 projects across the state, worth more than Rs 10 lakh crore at the fourth groundbreaking ceremony of UP Global Investors Summit held in February 2023. The projects relate to sectors

World’s biggest bird-a-thon begins in India

During the four days from Feb 16, more than a thousand birdwatchers throughout India are coming together with the goal of documenting as many birds as possible across the country’s diverse locations. Over one lakh birdwatchers globally participate in the annual Great Backyard Bird Coun

Visionary Talk: Amitabh Gupta, Pune Police Commissioner with Kailashnath Adhikari, MD, Governance Now


Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter