Coal India was listed on the bourses in 2010 after the government raised Rs 15,199 crore by selling 10 percent stake in the country's biggest initial public offering. This divestment would fetch the ex-chequer Rs 40,000 crore in this fiscal.
Confederation of Indian Industry (CII) has recommended that the coal sector be deregulated for competitive resource allocation. Private participation in the mining sector, particularly coal, is urgently needed, it said.
Union coal minister Shriprakash Jaiswal said it was unconstitutional to demand PM's resignation on the basis of CAG report and vehemently opposed the suggestion of a failure of political management over the issue.
Sources tell CNBC-TV18 that TCI wants to take the government of India to the international court on the issue of coal FSAs.
Prime Minister Manmohan Singh will reshuffle his Cabinet at around 5 PM on Wednesday. Sources say that the Prime Minister is keen on inducting some young faces at the cost of political heavyweights but no one is likely to be dropped from the Cabinet.