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Last Updated : Nov 21, 2019 03:39 PM IST | Source: Moneycontrol.com

Here are key takeways from FM Nirmala Sitharaman's press conference

The Cabinet has given the in-principle approval for disinvestment in select CPSEs, and a two-year moratorium on spectrum payment for telecom companies, among other measures.

Finance Minister Nirmala Sitharaman announced, on November 20, that the Cabinet has given the in-principle approval for disinvestment in select CPSEs, and a two-year moratorium on spectrum payment for telecom companies, among other measures.

Here are the key highlights of the meet:

- The government’s 53.2 percent stake in Bharat Petroleum Corporation Limited (BPCL) will be sold to a strategic buyer. This is excluding BPCL’s equity shareholding in Numalighar Refinery, based in Assam.

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-  In-principle approval has also been granted for the government's 63.75 percent in Shipping Corporation of India, 30.8 percent of Container Corporation of India, 74.23 percent of THDC and 100 percent in North Eastern Electric Power Coporation Limited (NEEPCO) will be sold to NTPC.

- Management control of these respective companies will be handed over to the strategic buyer.

-The Cabinet has approved deferring receipts due from Telecom Service Providers (TSPs) for spectrum payment for a period of two years.

-Cabinet has also approved monetising of NHAI projects that are operational and collecting toll for at least one year since construction through the TOT model.

-The concessional period for these projects has been brought down from 30 years to anywhere between 15-30 years

-The Cabinet has also authorised the NHAI to raise long term funds from banks through securitisation of the user fee it collects.

-A unified authority for regulating all activity in international financial services centre (IFFC) will be formed. Eight regulatory bodies will be brought together to constitute a board with due process. These bodies include SEBI, RBI, and PFRB.

-The Cabinet has also given approval for import of 1.2 lakh metric tonnes of onions.

-The Cabinet has also given a nod for the ordinance that implemented the corporate income tax cuts.

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First Published on Nov 20, 2019 10:52 pm
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