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.

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.
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The government aims to raise Rs 30,000 crore by selling shares in the 2012-13 fiscal year to March.
($1 = 53.7450 rupees)