Modi government may give freedom to PSUs to bring in private players

The move by the government to bring in private parties for the nomination blocks of state-run companies had raised protests among employees

Giving a major boost to government-owned Oil and Natural Gas Corporation (ONGC) and Oil India (OIL), the government is planning to come up with a new fiscal model giving ‘special incentives’ for fields that were given out on nomination to these companies. This will also give companies the freedom to bring in private players to ramp up the production.

Petroleum minister Dharmendra Pradhan said on Monday his government was working on giving “incentives to the exploration and production sector, especially those under the nomination regime and special incentives to difficult fields under that regime". This include blocks that were allocated