Finance Minister Arun Jaitley, in his Budget speech today, proposed merging of all oil public sector units (PSUs) to create one integrated company. It a welcome move and will create synergies in the sector, said the oil minister Dharmendra Pradhan. Over the last year, oil ministry has been in discussion on how Indian companies can take advantage of low oil prices. The government could look at forming 2-3 big companies, instead of one. However, Pradhan added that it “won’t be wise to put all eggs in one basket.” The merger & acquisition decisions for this will be taken by the PSUs and not the government. Once the due diligence is done, merger decisions will be taken by the independent boards. Watch video for more...
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!
