Govt speeds up divestment plans on upbeat sentiment after tax cut

Government officials had been privately grumbling that the subdued market sentiment was an added hindrance to the divestment plans for 2019-20. Now with the market looking up after Finance Minister Nirmala Sitharaman announced a reduction in corporate tax rates, the Department of Investment and Public Asset Management (Dipam) is lining up a glut of initial public offerings (IPOs) and offer for sales, Business Standard has learnt.

Sources also said the prevailing market sentiment, if it holds, would be conducive to the Centre’s strategic sale and asset monetisation. The first of these could be the long-term leasing out of the marquee Ashok