New NDA Government To Divest Stakes In At Least 10 PSUs; Targets Raising Rs 90,000 Crore In FY20Union Finance Minister, Arun Jaitley. (Manoj Verma/Hindustan Times via Getty Images)

As the new government takes a change for the second term of the Prime Minister Narendra Modi led National Democratic Alliance (NDA), it is expected to take up immediate and swift privatisation or stake sale at least ten state-owned companies, reports Economic Times.

It an ambitious bid to achieve or surpass its target of raising Rs 90,000 crore from disinvestment proceeds in the financial year (FY) 2019-20 as the government looks set to sell stakes of a number of companies in which has attracted wide interest from private players.

The probable companies to be taken up first for the disinvestment drive could be Scooters India, Bharat Pumps & Compressors, Project and Development India (PDIL), Hindustan Prefab, Hindustan Newsprint, Bridge and Roof Company and Hindustan Fluorocarbons.

It is expected that stakes in some of the state-owned companies may be divested in the July-September quarter itself given the government already has the approvals for selling shares in about 24 companies including Air India.

It should be noted that the government had exceeded asset sale targets of Rs 1 lakh crore in 2017-18 and Rs 80,000 crore 2018-19. The massive mandate of 353 seats won by the NDA, is expected to give a further give a boost to the government's drive.

An Appeal...

Dear Reader,

As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.

Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.

We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.

Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.

Become A Patron
Become A Subscriber
Advertisement