The Ministry of Finance is an important ministry within the Government of India concerned with the economy of India, serving as the Indian Treasury Department.
The Economic Survey 2020 has advocated more disinvestment in CPSEs for higher profitability and promote efficiency, competitiveness, and professionalism in these organisations.
The department of disinvestment will appoint general advisors from the shortlisted companies SBI Caps, IDBI Cap, AWR Lloyd, PricewaterhouseCoopers and LSI Financial Services for making a detailed analysis for restructuring selected central public sector enterprises (CPSEs) in low priority sectors where the government wants to sell its equity with transfer of management control.
The Union Cabinet on Wednesday cleared the launch of India's first bond ETF in a bid to deepen the bond market and bring in retail participation in this space besides providing an additional source of funding for Central Public Sector Enterprises (CPSEs) and state-owned financial institutions.
The disinvestment department, or Dipam, has invited general advisors to prepare a detailed analysis for restructuring selected central public sector enterprises (CPSEs) in low priority sectors where the government wants to sell its equity with transfer of management control, according to Dipam.
The government proposes to offload substantial stake in at least 10 blue chip companies this year to meet its higher disinvestment target, even though the exercise will bring down its holding in these state-run firms to below 51 per cent level, official sources said here on Wednesday.
In the wake of its proposed privatization, the government has asked Air India to put a freeze on large-scale promotion and appointments.
The recent Budget announcment of a 20 per cent tax on share buybacks could marginally affect the equity repurchase plans of the CPSEs but still it will remain an important mechanism to achieve the disinvestment target of Rs 1.05 lakh crore in fiscal 2020, a top official of the sell-off department said.
Public sector Bharat Sanchar Nigam Ltd (BSNL) is in the process identifying land parcels all over the country for monetisation, which as per its internal estimate is valued at Rs 20,000 crore in 2018-19.