Air India, BPCL sale by March : FM Nirmala Sitharaman


Daijiworld Media Network - New Delhi (SHP)

New Delhi, Nov 17: On Saturday, Finance Minister, Nirmala Sitharaman announced that by March 2020, the government will be finalising the sale of state-run airline Air India and oil refiner and marketer Bharat Petroleum Corporation (BPCL).

“We are moving on both with the expectation that we can complete them this year. The ground realities will play out,” she said in an exclusive TOI interview. One of the major reasons for undertaking the sale of the two major companies in the centre's intent to raise over Rs 1 lac crore in the current fiscal year.

Sitharaman said there is a 'lot of interest' among investors as evident in international roadshows ahead of the sale of Air India. In the past, the sale of Air India was aborted due to poor response from investors. The government is banking on receipts from disinvestment – comprising strategic sale and public offers – to shore up revenues in a year when tax collections are under pressure.

Sitharaman also claimed that the government has taken extensive measures to reverse the economic slowdown at the right time causing several sectors to come out of distress.

The FM, however, said she expected GST collections to revive on the back of an improvement in sales in some segments as also due to recent efforts to plug leakages. Sitharaman also said the Supreme Court judgement on Essar Steel had established constitutionality and legal strength of the IBC law and would have a huge impact on the balance sheets of banks in the next quarter.

She said there were signs of revival in consumer sentiment, which was manifested in demand of nearly Rs 1.8 lac crore in loans from banks at the outreach programme during the festival season.

“If consumer confidence is not on way to being restored, why would you think that such an amount would have gone out as loans during the two outreach programmes started by banks? It is all over the country,” Sitharaman added.

  

Top Stories

Comment on this article

  • Ajay, Mangalore

    Sun, Nov 17 2019

    And these people want to increase the revenue of our country

    DisAgree Agree [3] Reply Report Abuse

  • JWL, KSA, M'lore

    Sun, Nov 17 2019

    At the end you guys sell India and escape from India same like Vijay Mallya, Neerav Modi, Chokshi, Lalith Modi etc,,, etc,,,, We Indians will sell Tea, Pakodas on the streets !!!!!!
    (Thum Log Akir meh India ko Bejdo aur Thadi Par Hojavo !!!!!!!)

    DisAgree [1] Agree [6] Reply Report Abuse

  • Mohammed, Mangalore

    Sun, Nov 17 2019

    Very good and fantastic idea. Sale all the government sector one by one, Next railway soon. Baiyon aur behno ache din aanewale hain bauth jaldi.

    DisAgree [1] Agree [8] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Sun, Nov 17 2019

    Finally they will sell India to Ambani or Adani ...

    DisAgree [2] Agree [10] Reply Report Abuse


Leave a Comment

Title: Air India, BPCL sale by March : FM Nirmala Sitharaman



You have 2000 characters left.

Disclaimer:

Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Daijiworld.com will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will Daijiworld.com be held responsible.