Thursday, Jul 16, 2020 | Last Update : 09:30 PM IST

114th Day Of Lockdown

Maharashtra27564015261310928 Tamil Nadu1518201023102167 Delhi118645956993487 Karnataka4725318467933 Gujarat44648313462080 Uttar Pradesh41383257431012 Telangana3934225999386 Andhra Pradesh3545118378452 West Bengal34427206801000 Rajasthan2643719502530 Haryana2330617667319 Bihar2017313533157 Assam197551288953 Madhya Pradesh1964313908682 Odisha1489810476101 Jammu and Kashmir116666337206 Kerala9554463436 Punjab87995867221 Jharkhand4562248538 Chhatisgarh4556332420 Uttarakhand3785294850 Goa2951167418 Tripura228116043 Manipur170010800 Puducherry159688921 Himachal Pradesh134196610 Nagaland9023480 Chandigarh61945911 Arunachal Pradesh4911533 Meghalaya337462 Mizoram2381590 Sikkim222870
  Business   Companies  08 Jul 2019  India aims to cut stake in state-run firms to minimum in FY20: Source

India aims to cut stake in state-run firms to minimum in FY20: Source

REUTERS
Published : Jul 8, 2019, 12:21 pm IST
Updated : Jul 8, 2019, 12:21 pm IST

Government seeks to shore up 1.05 trillion rupees (USD 15.30 billion) through stake sales in the current fiscal year.

India needed funds to meet its fiscal deficit target of 3.3 per cent set for this fiscal year to March 2020.  (Photo: Reoresentational)
 India needed funds to meet its fiscal deficit target of 3.3 per cent set for this fiscal year to March 2020. (Photo: Reoresentational)

New Delhi: Indian government will attempt to cut its share holding in Public Sector Undertaking (PSUs) in 2019/20 to the minimum required under the rules, a government official said, as it seeks to shore up 1.05 trillion rupees (USD 15.30 billion) through stake sales in the current fiscal year.

India needed funds to meet its fiscal deficit target of 3.3 per cent set for this fiscal year to March 2020.

The government aims to raise 400 billion rupees from exchange-traded funds, the official told reporters. The official declined to be identified.

New Delhi will likely raise around 300 billion rupees from privatisation of state-owned companies in this fiscal year, the official said.

Tags: stake sales, privatisation, fiscal deficit, public sector undertakings, psu
Location: India, Delhi, New Delhi