Rs1.75 lakh cr to be raised via sale of surplus PSU land

New Delhi, February 1

Apart from two banks and one life insurance company, the government has also targeted the gradual sale of all PSUs with an eye on their surplus land to raise Rs 1.75 lakh crore in 2021-22. To monetise land owned by CPSEs, a special purpose vehicle would be developed.

The Finance Minister said except for four strategic areas, PSUs in all other sectors would be divested. The policy framework was announced in July last year and it was cleared by the Union Cabinet a couple of days ago. The Finance Minister said a beginning would be made in the next fiscal with the sale of IDBI Bank, BPCL, Shipping Corporation, Container Corporation, Neelachal Ispat Nigam etc. Niti Aayog has been asked to work on the next list of PSUs for strategic disinvestment. States are being encouraged to sell PSUs with a revised mechanism for fast-tracking the closure of loss- making PSUs and an incentive package. — TNS