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Interim Budget 2024: India may set a lower divestment target for state firms in fiscal 2024-25, falling short of this year s goal to be the lowest in nine years. The government is unsure whether regulatory delays will allow it to complete the sale of a majority stake in IDBI Bank, which is expected to bring more than RS 200 billion into government coffers when completed. ....
The finance ministry informed the Parliament that profit or loss of a state-run company is not among the relevant criteria for its privatisation or disinvestment policy but its based on the economic principle that the government should discontinue in sectors where competitive markets have come of age. The strategic disinvestment or privatisation is carried out through an “open, transparent and competitive” bidding process, it said ....
The Department of Public Enterprises is in the process of identifying non-strategic central public sector undertakings either for closure or privatisation. ....