Advertisement
Thursday, Oct 28, 2021
Outlook.com
Outlook.com

Air India, Bharat Petroleum Likely To Be Sold Off By March: FM Nirmala Sitharaman

"We are moving on both with the expectation that we can complete them this year. The ground realities will play out," Sitharaman said.

Air India, Bharat Petroleum Likely To Be Sold Off By March: FM Nirmala Sitharaman
Finance Minister Nirmala Sitharaman | File photo
Air India, Bharat Petroleum Likely To Be Sold Off By March: FM Nirmala Sitharaman
outlookindia.com
2019-11-17T16:49:17+05:30

Debt-ridden state-run companies--Air India and  Bharat Petroleum Corporation--are expected to be sold off by the government by March next year, Financer Minister Nirmala Sitharaman told Times of India in an interview. 

"We are moving on both with the expectation that we can complete them this year. The ground realities will play out," she said.

The strategic sale of the two companies is part of a crucial plan of the government to raise over 1 lakh crore in the current fiscal year, the TOI report said.

The loss-making airline's sale had to be aborted, a year before,  as there was poor response from the investors. This time around, however, Sithraman assured that there is a "lot of interest" among investors for Air India.

The government is banking on receipts from disinvestments to get revenues in a year when tax collection is under pressure.

Sitharaman, told TOI, that the government took measures to reverse the economic slowdown at the right time and that several sectors were coming out of distress. She expects GST collections to revive on the back of improvement in sales in some segments and due to recent efforts to plug leakages.

The Finance Minister said that the Supreme Court judgement on Essar Steel has established constitutionality and legal strength of the IBC law and would have a huge impact on the balance sheets of banks in the next quarter.

Advertisement

Outlook Newsletters

Advertisement
Advertisement
Advertisement

Read More from Outlook

Aryan Khan Drug Case: Bombay HC Adjourns Hearing Of Bail Petition Till Thursday

Aryan Khan Drug Case: Bombay HC Adjourns Hearing Of Bail Petition Till Thursday

Justice Sambre has once again adjourned the hearing. The Bombay High Court will hear the petitions of Aryan Khan, Arbaaz Merchant and Munmun Dhamecha tomorrow afternoon after 2.30 pm.

Explainer | Why India Celebrates Vigilance Awareness Week Every Year To Mark Sardar Patel's Birthday

Explainer | Why India Celebrates Vigilance Awareness Week Every Year To Mark Sardar Patel's Birthday

This year, the theme of the Vigilance Week celebrations is 'Independent India @ 75: Self Reliance with Integrity'.

IPL: Sourav Ganguly Steps Down As ATKMB Director

IPL: Sourav Ganguly Steps Down As ATKMB Director

ATK Mohun Bagan is owned by Sanjiv Goenka-led RPSG Group, which will now own an IPL team based out of Lucknow.

Mandi Bypoll: 'Do They Want Me To Become Sati?', Asks Congress Candidate Pratibha Singh

Mandi Bypoll: 'Do They Want Me To Become Sati?', Asks Congress Candidate Pratibha Singh

Pratibha Singh talks about her decision to contest the poll and carry forward the legacy of ‘Raja Sahib’, ex-Himachal CM Virbhadra Singh.

Advertisement