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PSU stake sale to be hastened, says PM

New Delhi, Dec 16, 2012, Reuters:

India will speed up the sale of stakes in state companies to revive the stock market and will push ahead with reforms aimed at spurring investment recovery, Prime Minister Manmohan Singh has said.

“We will speed up the disinvestment process, which will also revive our equity markets,” Singh said. Selling equity in large public industries is a central plank of the government’s plan to bring down a wide fiscal deficit, a major weakness in the country.

This week, the sale of 10 per cent in NMDC raised $1.1 billion and the government is aiming for Rs 30,000 crore from such partial privatisations by March.


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Hindu priest performs evening prayers called 'Aarti' on the banks of the river Yamuna...

Hindu priest performs evening prayers called 'Aarti' on the banks of the river Yamuna...

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Dakshineswar Temple decorated with lights for the Kali Puja and Diwali at North 24 Pargana...

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Firecrackers light up the sky as people celebrate Diwali festival in Mumbai...

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School students lighting earhen lamps at Tulsi Ghat in Varanasi...

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A view of decorated Madan Mohan Malviya Stadium with oil lamps during Deepwali festival...

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Illuminated Golden Temple on the eve of Diwali in Amritsar...

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Children with special needs light firecrackers as they celebrate Diwali...

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Border Security Force (BSF) soldiers enjoy Diwali celebrations on the eve of Diwali...

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Hindu priests light oil lamps in a formation of the 'Swastika', a Hindu symbol of peace...

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A Border Security Force (BSF) soldier lights sparklers on the eve of Diwali...

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