Air India, Pawan Hans, BEML on Centre's list of 23 PSUs for disinvestment for Rs 1.05 lakh crore in FY20
The government has given in-principle approval for strategic disinvestments of 23 CPSEs including subsidiaries, units and joint ventures with majority stake sale of the government and transfer of the management control
- Jul 25, 2019,
- Updated Jul 25, 2019 5:25 PM IST
The Union government hopes to garner Rs 1.05 lakh crore from disinvestments in the current financial year, an increase of 31 per cent over the last year's target. Moving ahead with this plan, it has given in-principle approval for strategic disinvestments of 23 CPSEs including subsidiaries, units and joint ventures with majority stake sale of the government and transfer of the management control.
Among the CPSEs nominated for disinvestment include Air India and its five subsidiaries, along with Project & Development India, Hindustan Prefab (HPL), Engineering Project (India), Bridge and Roof Co. India, Pawan Hans, Hindustan Newsprint Ltd, Scooters India Limited, Bharat Pumps & Compressors, Hindustan Fluorocarbon (HFL), Central Electronics, Bharat Earth Movers (BEML),Ferro Scrap Nigam, Cement Corporation of India (CCI), Nagamar Steel Plant of NMDC, and SAIL's Alloy Steel Plant in Durgapur.
During Prime Minister Narendra Modi-led government's first term between 2014 and 2019, only last two years saw strategic disinvestments of five PSUs namely HPCL, REC, NPCC, HSCC and DCIL, earning Rs 52,829 crore. In 2017/18, the HPCL-ONGC deal alone raised Rs 36,915 crore, which accounted for nearly 37 per cent of the total disinvestment proceeds during that year. Proceeds from remaining four CPSEs in the next fiscal year contributed around 19 per cent to the total disinvestment amount of Rs 84,972 crore in 2018/19.
The Union government hopes to garner Rs 1.05 lakh crore from disinvestments in the current financial year, an increase of 31 per cent over the last year's target. Moving ahead with this plan, it has given in-principle approval for strategic disinvestments of 23 CPSEs including subsidiaries, units and joint ventures with majority stake sale of the government and transfer of the management control.
Among the CPSEs nominated for disinvestment include Air India and its five subsidiaries, along with Project & Development India, Hindustan Prefab (HPL), Engineering Project (India), Bridge and Roof Co. India, Pawan Hans, Hindustan Newsprint Ltd, Scooters India Limited, Bharat Pumps & Compressors, Hindustan Fluorocarbon (HFL), Central Electronics, Bharat Earth Movers (BEML),Ferro Scrap Nigam, Cement Corporation of India (CCI), Nagamar Steel Plant of NMDC, and SAIL's Alloy Steel Plant in Durgapur.
During Prime Minister Narendra Modi-led government's first term between 2014 and 2019, only last two years saw strategic disinvestments of five PSUs namely HPCL, REC, NPCC, HSCC and DCIL, earning Rs 52,829 crore. In 2017/18, the HPCL-ONGC deal alone raised Rs 36,915 crore, which accounted for nearly 37 per cent of the total disinvestment proceeds during that year. Proceeds from remaining four CPSEs in the next fiscal year contributed around 19 per cent to the total disinvestment amount of Rs 84,972 crore in 2018/19.