The sale of shares of PSU obtains a new topping: LIC
The government set a tough goal to increase Rs 2.1 lakh crore from state-owned companies in the next fiscal year, while revealing its plan to include the country's main insurance company, Life Insurance Corporation.
The FM said that the government would also consider the possibility of at least one major port and then include it in the stock exchanges as part of the plan to obtain value in PSU companies.
The government had aimed to raise Rs 1.05 lakh crore from the sale of stakes in state-owned companies in 2019-20, but in the revised estimates, the target was reduced to Rs 65,000 crore because some large ticket sales did not take off.
The objective of Rs 2.1 lakh crore for next year includes Rs 90,000 crore for the sale of stakes in state banks and financial institutions. The rest is expected to come from the sale in state-owned companies.