Three major PSUs: Bharat Petroleum Corporation Limited (excluding shares of Assam’s Numaligara Refinery), Cargo Mover Container Corporation of India, Shipping Company Shipping Corporation of India Ltd. Ama Published by Ticher. In addition, 74.23% of DHDC’s shares and 100% of Nippco’s shares will be privatized.
Nirmala Sitharaman spoke to reporters after the conclusion of the Advisory Committee on Economic Divorce yesterday. He noted that the “Committee of the Economic Committee has decided to reduce the share of the central government in selected public sector undertakings to below 51%. But efforts are being made to maintain administrative control, he said. Nirmala Sitharaman announced the budget for the current fiscal year at a cost of Rs. He announced a return on investment of Rs 1,05,000 crore. In the last financial year (2018-2019), this target was Rs. 80000 crore. Experts say that closing the sale of these three companies by March 31, 2020 will be a challenging task for the government.
The government holds 53.29% stake in Bharat Petroleum Corporation Limited. Shipping Corporation of India has 63.75% stake in the company. The company has 30.8% stake in CONCOR’s 54.8% stake. The government of India has decided to keep the shares of CONCOR’s other 24% stake in the railway sector as it requires cooperation. However, it has been announced that the entire administration will be given to the private company. It has been announced that all the shares of Numaliger Oil Company will be transferred to another government company respectively. Nirmala Sitharaman announced that it will be separated from Bharat Petroleum Company and given to another government company.
Central Arsu is currently postponing its proposal to charge spectrum charges to provide some comfort to telecom companies facing economic pressure. But it has announced that spectrum fees (with interest) must be paid when it comes to spectrum auctions. Companies wishing to temporarily postpone spectrum fees must submit a bank guarantee. The central government has agreed to give the companies a relaxation period of up to 2 years to repay the balance. This money can be repaid by telecommunication companies.
Experts say the government may raise a total of Rs 1 lakh crore by selling shares in public sector companies. These funds will help to overcome the deficit of 3.3% of GDP by the end of March 2020. However, the government has not made it clear whether it will be able to sell the stock within this fiscal year.