India divestment plan

by khalid on 08/11/2009 · 0 comments

India

Indian Government announced a bold divestment plan by encouraging the share market buoyant condition. Cabinet Committee on Economic Affairs (CCEA) said in a statement that PSU’s having last three years profitable record will come out with IPOs and the money generated by this move will be spend for public welfare.

In recent past we saw two IPOs by Government namely NHPC and Oil India and now there will be around 40 listed companies and 100 unlisted companies of Government, which will come out in market for generating money for public welfare. Government enhancing on the point that the proceeds of this divestment plan will be directly use for education and health care and need not be go through National Investment Fund (NIF) route.

Communist Party (CPM), on the other hand starts opposing the divestment plan of PSUs and saying that it would effect the economy of the country in a negative way. BSNL employees too starts opposing the move.

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