ADVERTISEMENT
Daily Expert News
No Result
View All Result
Sunday, August 14, 2022
  • Home
  • World
  • Economy
  • Business
  • Markets
  • Arts & Culture
  • Education & Career
  • India
  • Politics
  • Top Stories
Daily Expert News
  • Home
  • World
  • Economy
  • Business
  • Markets
  • Arts & Culture
  • Education & Career
  • India
  • Politics
  • Top Stories
No Result
View All Result
Daily Expert News
No Result
View All Result
  • Home
  • World
  • Economy
  • Business
  • Markets
  • Arts & Culture
  • Education & Career
  • India
  • Politics
  • Top Stories
ADVERTISEMENT
Home Business

Divestment not for closing public sector entities: Minister of Finance

by Nick Erickson
June 10, 2022
in Business
130 3
0
NDTV News
152
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter
ADVERTISEMENT


Nirmala Sitharaman Has Said Divestment Is To Make PSUs More Efficient

New Delhi:

Finance Minister Nirmala Sitharaman said Friday that the principle of the government’s divestment program is not to shut down a unit or company, but to make them more efficient and professional.

The minister stressed that public companies privatized between 1994 and 2004 are run by professionally run boards, and said these companies have only improved.

During the Department of Investment and Public Asset Management (DIPAM) iconic weekday celebrations as part of ‘Azadi ka Amrit Mahotsav’ here, Ms Sitharaman said that the privatization of Central Government Enterprises (CPSEs) is to ensure that these companies operate efficiently and cost effective.

“…The principle of divestment now is not to close a unit. The economy needs so many such companies and many, many more.

“So if we want to get that activity done professionally and open up spaces for people to come and do it, our interest is not to stop, we want to get it started, we want them to work much more efficiently so that contributions can be made.” to the economy,” Ms Sitharaman said in her webcast speech from Bengaluru.

She said the principle of divestment is to ensure that companies that are privatized are in the hands of people who can run them, bring in more capital and provide the same output.

“So it’s not to close, but to create opportunities for better and more investment,” said mS Sitharaman.

The government also has more than half a dozen companies lined up for strategic sale. These include Shipping Corp, CONCOR, Vizag Steel, IDBI Bank, NMDC’s Nagarnar Steel Plant, and HLL Lifecare.

So far, in the current fiscal year, the government has mopped up more than Rs 24,000 crore from the divestment of CPSE. The target for the full fiscal year has been set at Rs 65,000 crore.

Over Rs 13,500 crore was realized through divestment of CPSE in the past fiscal year, including the amount realized through the privatization of Air India.

ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Tags: closingDailyExpertNewsdivestmentEntitiesFinanceMinisterPublicSector

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe
ADVERTISEMENT

Related Posts

Mapping 75 years Of India
Business

Mapping 75 years of socio-economic development of India: 10 points

August 14, 2022
Rakesh Jhunjhunwala Will Be Remembered For
Business

Rakesh Jhunjhunwala will be remembered for “providence”: Ratan Tata

August 14, 2022
NSE Shareholders Approve Ashishkumar Chauhan As MD, CEO
Business

NSE Shareholders Approve Ashishkumar Chauhan as MD, CEO

August 14, 2022
NDTV News
Business

Rakesh Jhunjhunwala: The Unabashed Wealth Creator Sans Big Scam Shadow

August 14, 2022
Nation Mourns Rakesh Jhunjunwala
Business

Nation mourns death of Rakesh Jhunjunwala; Read comments

August 14, 2022
NDTV News
Business

Ministry of Finance to review exemption-free tax system: report

August 14, 2022
ADVERTISEMENT
  • Trending
  • Comments
  • Latest
This optical illusion has a revelation about your brain and eyes

This optical illusion has a revelation about your brain and eyes

June 6, 2022
NDTV Coronavirus

Viral video: Chinese woman pinned down, Covid test carried out by force

May 5, 2022
Hundreds In Sarees At UK

Hundreds of sarees at Britain’s Royal Ascot Horse Race to help Indian weavers

June 16, 2022
Sabrina's parents love her. But the meltdowns are too many.

Sabrina’s parents love her. But the meltdowns are too many.

June 1, 2022
Skyrocketing global fuel prices threaten livelihoods and social stability

Skyrocketing global fuel prices threaten livelihoods and social stability

1

Hello world!

0
NDTV News

IT startup Fareye aims to change Unicorn within a year, founder says

0
How did Stephanie Murphy, a holdout on Biden's agenda, help save it?

How did Stephanie Murphy, a holdout on Biden’s agenda, help save it?

0
Adam's Confidant Leaves Casino Company

Adam’s Confidant Leaves Casino Company

August 14, 2022
An attack of amnesia

An attack of amnesia

August 14, 2022
Hawaii's second-in-command Josh Green wins Democratic primary for governor.

Hawaii’s second-in-command Josh Green wins Democratic primary for governor.

August 14, 2022
At the Salzburg Festival, wealth, innovations and warnings

At the Salzburg Festival, wealth, innovations and warnings

August 14, 2022

Recent News

Adam's Confidant Leaves Casino Company

Adam’s Confidant Leaves Casino Company

August 14, 2022
An attack of amnesia

An attack of amnesia

August 14, 2022

Categories

  • Africa
  • Americas
  • art-design
  • Arts
  • Asia Pacific
  • Astrology News
  • books
  • Books News
  • Business
  • Cricket
  • Cryptocurrency
  • Dance
  • Dining and Wine
  • Economy
  • Education & Career
  • Europe
  • Fashion
  • Food
  • Football
  • Gadget
  • Gaming
  • Golf
  • Health
  • Hot News
  • India
  • Indians Abroad
  • Lifestyle
  • Markets
  • Middle East
  • Most Shared
  • Motorsport
  • Movie
  • Music
  • New York
  • Opinion
  • Politics
  • press release
  • Real Estate
  • Review
  • Science & Space
  • Sports
  • Sunday Book Review
  • Tax News
  • Technology
  • Television
  • Tennis
  • Theater
  • Top Movie Reviews
  • Top Stories
  • Travel
  • Uncategorized
  • Web Series
  • World

Site Navigation

  • Home
  • Advertisement
  • Contact Us
  • Privacy & Policy
  • Other Links

We bring you the Breaking News,Latest Stories,World News, Business News, Political News, Technology News, Science News, Entertainment News, Sports News, Opinion News and much more from all over the world

©Copyright DailyExpertNews 2022

No Result
View All Result
  • Contact Us
  • Home
  • Top Stories
  • World
  • Economy
  • Business
  • Opinion
  • Markets
  • India
  • Education & Career
  • Arts
  • Advertisement
  • Tax News
  • Markets

©Copyright DailyExpertNews 2022

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.