Govt aims to raise $47 billion from stake sales in PSUs in next five years

The government plans to raise around Rs 3.25 trillion ($47.4 billion) in the next five years by reducing its stakes in some large state-owned firms to 40 per cent, two senior government officials said, in the nation’s biggest privatisation push in more than two decades. Last week, Finance Minister Nirmala Sitharaman in Budget announced that the government will look to reduce direct controlling stakes in some state-run firms on a case-by-case basis.

The plan will open up a steady stream of state companies to greater private investment, and target the kind of annual divestment revenue that will be crucial to meet