Handing over the family silver seems to be the main target of the NDA/BJP Government. It is reported that the Finance Ministry and Department of Disinvestment are on the move to sell shares of most profitable PSUs. According to Finance Minister Arun Jaitley, the government proposes to garner Rs. 58,425 crore by sale of PSUs in 2014-15. The disinvestment is proposed in ONGC, Coal India, Rashtriya Ispat Nigam Ltd., HAL, SAIL, NHPC, Power Finance Corporation etc. which are highly profitable PSUs.
The UPA Government sold PSU shares for Rs.13,384 crore in 3011-12, Rs.23,957 crore in 2012-13 and Rs. 15,280 in 2013-14. These were below the targets of Rs.40,000 crore, Rs. 30,000 crore and Rs. 40,000 crore respectively.
The govt. is also on the move to hand over certain PSUs to strategic partners as was done in the case of VSNL.
BSNL workers defeated the govt.’s move for disinvestment twice earlier. Now that BSNL is not on profit, the issue remains in the back ground. But the threat exists.
Modi Govt. Aggressive on Selling Family Silver
26 Tuesday Aug 2014
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