With the sale of Air India, for the first time in 17 years, a government company has been successfully privatized. Because of this, the Modi government is now moving ahead on its goal of achieving privatization and disinvestment. In the year 2021-2022, the government is thinking of privatization or disinvestment of more than half a dozen companies.
The central government says that there are many such sectors in our country where there is no need for government companies, such government companies are running in losses for years, so privatization or disinvestment is mandatory. Dipam Secretary Tuhin Kant Pandey had told that the government’s privatization and disinvestment program is back on track, which was halted due to the Corona epidemic.
The government has set a target of getting Rs 1.75 lakh crore through disinvestment in this financial year, out of which Axis Bank, NMDC etc. have added about 8,369 crores by selling stake and about 18 thousand crores were received in the sale of Air India. . Overall, the government has collected 26,369 thousand crores.
The process of privatization of Bharat Petroleum Corporation BPCL will end in this financial year. Apart from BPCL, the process of privatization of Government Shipping Corporation of India BEML, Pawan Hans and Nilanchal Ispat Nigam can also be completed this year. Along with these companies, PSU banks and insurance companies will also be privatized.
The disinvestment process of IDBI Bank has also got the green signal from the government. Let us tell you that within the last six years, the government has added a total of Rs 3.5 lakh crore through disinvestment. LIC and CONCOR have also been placed in the list of listing, their shares will also be sold.
The government is planning to disinvest LIC in this financial year, the government will sell 10 percent stake in LIC and can raise around 80 thousand to 1 lakh crore rupees from it. This could be the biggest IPO of the government in the stock market.
BPCL will go completely private very soon, for this the government may invite financial bids by the end of this year. Companies like Vedanta, Apollo Global Management are showing interest in BPCL. The government will sell its 52.98 per cent stake, due to which it can raise up to 52,200 crores.
The government and LIC hold a total of 94 per cent stake in IDBI Bank, which can be auctioned for disinvestment. While presenting the budget this time, the Finance Minister had said that the privatization of IDBI would be completed in this financial year.
Shipping Corporation of India, which is to be privatized within this financial year, holds 63.75 per cent stake in the company, which the government will sell. For this, three companies have expressed interest, which include Safesea of America, Megha Engineering & Infrastructure of Hyderabad and a consortium led by Ravi Malhotra.
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The government has set a target of disinvestment of BEML by the end of this financial year, this company was established in 1964. This company manufactures rail coaches and spare parts, the government has a 54.03 percent stake in it, out of which 26 percent will be sold.
The government wanted to sell helicopter maker Pawan Hans for the last several years but could not sell it. It is targeted to be sold by the end of this financial year, the government has received bids related to privatization of this company. The government has a total stake of 51 per cent in this company and ONGC holds 49 per cent. ONGC has also announced to sell its stake in Pawan Hans.
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