Govt eyes over Rs 2500 crore from Oil India stake sale

The government expects to raise more than Rs 2500 crore by selling a 10 percent stake in Oil India Ltd on Friday, Oil Secretary G C Chaturvedi said on Wednesday.

January 30, 2013 / 17:26 IST

26 Aug, 2025 12:21

Volume

Todays L/H

The government expects to raise more than Rs 2500 crore by selling a 10 percent stake in Oil India Ltd on Friday, Oil Secretary G C Chaturvedi said on Wednesday.

Selling down its shareholding in companies is central to the government's plan to cut its fiscal deficit to 5.3 percent of GDP in the current financial year from 5.8 percent in 2011-12.

India's hefty fiscal deficit has triggered warnings of a potential credit rating downgrade.

FinMin, OilMin fray over calculation of under recoveries

The government aims to raise Rs 30,000 crore by selling shares in the 2012-13 fiscal year to March.

($1 = 53.7450 rupees)

first published: Jan 30, 2013 03:56 pm

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Subscribe to Tech Newsletters

Al Edge Newsletter On Saturdays

Find the best of Al News in one place, specially curated for you every weekend.
MC Tech 3 Newsletter Daily-Weekdays

Stay on top of the latest tech trends and biggest startup news.

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347