Public sector, state owned companies to be strategically disinvested
Q. Union Cabinet gave approval for expediting strategic disinvestment of which companies?- Published on 17 Aug 17a. State owned
b. Public
c. Private
d. Both a and b
e. All the above
ANSWER: Both a and b
The Cabinet on Aug 16, 2017 decided to set up a high-powered committee of Union ministers, including Finance Minister Arun Jaitley, to expedite strategic disinvestment of state-owned companies.
The Cabinet gave its nod for setting up an Alternative Mechanism (AM) consisting of Finance Minister, Road Transport and Highways Minister, and Minister of Administrative Department, to decide on the matters relating to strategic disinvestment.
The government has budgeted to raise INR 72,500 crore through stake sale in PSUs.
This includes INR 46,500 crore from minority stake sale, INR 15,000 crore from strategic disinvestment and INR 11,000 crore from listing of PSU insurance companies.
