BPCL to SCI, group of secretaries clears strategic stake sale in five PSUs

The sale may fetch over Rs 60,000 crore

The government has set the ball rolling on strategic sales, with a group of secretaries on Monday clearing disinvestment in five public sector undertakings (PSUs), which may fetch over Rs 60,000 crore and keep the fiscal deficit in check. This would account for around 60 per cent of Rs 1.05 trillion budgeted from disinvestment in the current financial year. 

Disinvestment in Bharat Petroleum Corporation (BPCL), Shipping Corporation of India (SCI), Concor, North Eastern Electric Power Corporation (NEEPCO), and THDC would help the Centre keep its fiscal deficit in check in the wake of subdued tax revenues and a Rs 1.45-trillion