PSEs to divest assets for investing in new projects

New Delhi, Feb 29 (IANS) The government would encourage the central public sector enterprises (CPSEs) to divest individual assets like land and manufacturing units to release their asset value for investing in new projects, said Finance Minister Arun Jaitley here on Monday.

“We will encourage CPSEs to divest individual assets like land, manufacturing units to release their asset value for making investment in new projects,” Jaitley said in the Lok Saba, presenting the Union Budget for fiscal 2016-17.

Asserting that assets of the enterprises have to be leveraged for generating resources for investment in new projects, Jaitely told lawmakers that a new policy for management of government investments and strategic sale has been approved.

The National Institution for Transforming India (NITI) Aayog will identify the enterprises for strategic sale.

The Ayog was set up by Prime Minister Narendra Modi in 2015 as the country’s new policy think-tank in place of the erstwhile Planning Commission.

Declaring that the disinvestment department would be renamed the department of investment and public asset management (Dipam), the minister said a new approach would be adopted for efficient management of investments in the PSEs.

“We will also address issues such as capital restructuring, dividend, bonus shares, etc.,” Jaitley affirmed in his 100-minute long speech in English while seated.

Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of www.mangalorean.com or any employee thereof. www.mangalorean.com is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of www.mangalorean.com to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at  info@mangalorean.com. Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here