Loksabha election

Friday, May 29, 2009

PSU Disinvestment in Union budget 2009 2010

Indian Prime Minister Manmohan Singh said that the Union Budget for 2009-10 may announce a disinvestment of government stake in public sector companies.

"Fiscal prudence and disinvestment of public sector units — all these issues will be tackled by the Finance Minister pranab mukherjee in the union Budget 2009 2010 ," Singh told reporters after the second round of swearing in of Union Ministers at Rashtrapati Bhawan.

A host of companies waiting for the government nod for disinvestment include Bharat Sanchar Nigam Ltd (BSNL), railway consultancy firm RITES, National Aviation Company, and Ircon.

The government has already cleared the disinvestment of NHPC and Oil India but could not tap the capital market due to the prevalent negative sentiment.

Finance Minister Pranab Mukherjee had yesterday said he will present the full union Budget for 2009-10 in the first week of July.

On the stimulus package, Mukherjee had said the government is assessing the impact of three packages, announced in December, January and in the interim Budget, in boosting growth.


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