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Niti Aayog zeroes in on CPSE assets to be put on the block

Former Finance Minister Arun Jaitley in March had announced that the government exceeded its disinvestment target for FY18-19 by Rs 5,000 crore, as the proceeds touched Rs 85,000 crore.

June 07, 2019 / 04:31 PM IST
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Niti Aayog has identified more than 50 central public sector enterprises assets (CPSE) , as per a report in The Economic Times.

The asset list, drawn up by Niti Aayog CEO Amitabh Kant along with secretaries of nodal ministries, includes land and industrial plants of Central holdings such as 400 acres from NTPC's Badarpur plant, Cement Corporation of India, BEML and brownfield assets of SAIL among others.

"We are looking at asset monetisation and the list has been sent to the Department of Investment and Public Asset Management (DIPAM) for approval," a government official told the paper.

DIPAM, under the Finance Ministry, looks after the disinvestment and privatisation of public sector units.

Former Finance Minister Arun Jaitley in March had announced that the government exceeded its disinvestment target for FY18-19 by Rs 5,000 crore, as the proceeds touched Rs 85,000 crore.

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The move follows the Rs 90,000 crore disinvestment target set by the government for the current financial year. In the same month, the Cabinet cleared the institutional framework under strategic disinvestment for monetisation of non-core assets of state-owned companies.

Once monetisation is cleared, as per a memorandum of understanding signed by the company with the government, the sale process must be completed in a year. Air India was among 24 other companies whose sale has already been approved.

In 2018, the government had put up 74 percent of Air India’s stake up for sale, a failed attempt at privatisation and clearing debt worth Rs 29,000 crore. On May 27, it emerged that they are making another attempt at a strategic sale of Air India, by mulling divesting its entire 100 percent stake in the airline.
Moneycontrol News
first published: Jun 7, 2019 04:31 pm

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