<p>The government on Monday budgeted Rs 1.75 lakh crore from stake sale in public sector companies and financial institutions, including 2 PSU banks and one insurance company, in the next fiscal year.</p>.<p>Unveiling the PSE policy in Budget 2021-22, Finance Minister Nirmala Sitharaman said barring four strategic areas, public sector companies in other sectors will be divested. The policy would give a clear roadmap for disinvestment in strategic and non-strategic sectors.</p>.<p><strong><a href="https://www.deccanherald.com/union-budget-2021">Follow DH's coverage on Union Budget 2021 here</a></strong></p>.<p>She said the strategic sale of IDBI Bank, BPCL, Shipping Corp, Container Corporation, Neelachal Ispat Nigam Ltd, among others, would be completed in 2021-22 fiscal year beginning April 1. Also legislative amendments required for LIC IPO would be brought in 2021-22.</p>.<p>She said NITI Aayog has been asked to work on the next list of central public sector companies for strategic disinvestment.</p>.<p><strong><a href="https://www.deccanherald.com/business/union-budget/budget-2021-live-fm-nirmala-sitharaman-modi-parliament-budget-speech-income-tax-slabs-budget-2021-announcements-coronavirus-privatisation-divestment-945745.html">Follow live updates on Union Budget 2021 here</a></strong></p>.<p>Sitharaman said a revised mechanism for fast-tracking closure of loss-making PSUs would be worked out and an incentive package would be developed to incentivise states to sell stake in state PSUs.</p>.<p>To monetise lands owned by CPSEs, a special purpose vehicle (SPV) would be developed.</p>.<p>Finance Minister Nirmala Sitharaman had in her previous budget for 2020-21 set a target of raising Rs 2.1 lakh crore from privatisation and sale of minority stakes in state-owned companies. This include Rs 1.20 lakh crore from selling stake in CPSEs and Rs 90,000 crore from stake sale in financial institutions.</p>.<p>So far this fiscal, the government has garnered Rs 19,499 crore through minority stake sale in CPSEs and share buybacks.</p>
<p>The government on Monday budgeted Rs 1.75 lakh crore from stake sale in public sector companies and financial institutions, including 2 PSU banks and one insurance company, in the next fiscal year.</p>.<p>Unveiling the PSE policy in Budget 2021-22, Finance Minister Nirmala Sitharaman said barring four strategic areas, public sector companies in other sectors will be divested. The policy would give a clear roadmap for disinvestment in strategic and non-strategic sectors.</p>.<p><strong><a href="https://www.deccanherald.com/union-budget-2021">Follow DH's coverage on Union Budget 2021 here</a></strong></p>.<p>She said the strategic sale of IDBI Bank, BPCL, Shipping Corp, Container Corporation, Neelachal Ispat Nigam Ltd, among others, would be completed in 2021-22 fiscal year beginning April 1. Also legislative amendments required for LIC IPO would be brought in 2021-22.</p>.<p>She said NITI Aayog has been asked to work on the next list of central public sector companies for strategic disinvestment.</p>.<p><strong><a href="https://www.deccanherald.com/business/union-budget/budget-2021-live-fm-nirmala-sitharaman-modi-parliament-budget-speech-income-tax-slabs-budget-2021-announcements-coronavirus-privatisation-divestment-945745.html">Follow live updates on Union Budget 2021 here</a></strong></p>.<p>Sitharaman said a revised mechanism for fast-tracking closure of loss-making PSUs would be worked out and an incentive package would be developed to incentivise states to sell stake in state PSUs.</p>.<p>To monetise lands owned by CPSEs, a special purpose vehicle (SPV) would be developed.</p>.<p>Finance Minister Nirmala Sitharaman had in her previous budget for 2020-21 set a target of raising Rs 2.1 lakh crore from privatisation and sale of minority stakes in state-owned companies. This include Rs 1.20 lakh crore from selling stake in CPSEs and Rs 90,000 crore from stake sale in financial institutions.</p>.<p>So far this fiscal, the government has garnered Rs 19,499 crore through minority stake sale in CPSEs and share buybacks.</p>