Live Breaking News & Updates on Privatising Public Sector Banks

Execution will be critical for the strategic disinvestment policy unveiled in the Budget
The government’s spending plans for 2021-22 hinge on better compliance lifting tax collections, and an ambitious plan to raise non-tax revenue. Finance Minister Nirmala Sitharaman has announced large-scale monetisation of government sector assets, including vast tracts of land, and is banking on disinvestment receipts of ₹1.75-lakh crore. This includes likely inflows from the strategic sale of entities such as Air India and BPCL, carried forward from this year’s plans. The listing of LIC could be completed as well, with necessary amendments in the Finance Bill, and that alone could bolster the revenue kitty. Most significant, however, is the new strategic disinvestment policy for public sector enterprises and the promise to privatise two public sector banks and a general insurance company in the year. The policy, promised as part of the Atma Nirbhar Bharat package, states the govern ....

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