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Disinvestment target at Rs. 1.75 trn

The government on Monday budgeted Rs 1.75 lakh crore from stake sale in public-sector companies and financial institutions, including two PSU banks and one insurance company, in the next fiscal year.

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Disinvestment target at Rs. 1.75 trn
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1 Feb 2021 9:26 PM IST

New Delhi: The government on Monday budgeted Rs 1.75 lakh crore from stake sale in public-sector companies and financial institutions, including two PSU banks and one insurance company, in the next fiscal year.

Unveiling the PSE policy in Budget 2021-22, Finance Minister Nirmala Sitharaman said barring four strategic areas, public-sector companies in other sectors will be divested. The policy would give a clear roadmap for disinvestment in strategic and non-strategic sectors. She said strategic sale of IDBI Bank, BPCL, Shipping Corp, Container Corporation, Neelachal Ispat Nigam Ltd, among others, would be completed in 2021-22 fiscal year beginning April 1.

Also legislative amendments required for LIC IPO would be brought in 2021-22. She said NITI Aayog has been asked to work on next list of central public sector companies for strategic disinvestment. Sitharaman said a revised mechanism for fast-tracking closure of loss making PSUs would be worked out and an incentive package would be developed to incentivise states to sell stake in state PSUs.

FDI IDBI Bank BPCL Union Finance Minister Nirmala Sithraman Union Budget 2021-22 
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