CPSEs News

A special purpose vehicle (SPV) in the form of a company would be set up. The firm will hold these assets which would be monetised to fetch value to the exchequer.

This was 4th in the ongoing series of meetings. Growth acceleration is the moot point. FM said CAPEX by CPSEs is a critical driver of economic growth.

The Finance Minister said that better performance of CPSEs can help the economy in a big way to recover from the impact of COVID-19.

Sitharaman said that this will help India become a lot more financially vibrant economy. Bharat Bond ETF will have a fixed maturity period like close-ended mutual funds and the units will be listed on stock exchanges. 

During the meeting the finance ministry reviewed capital expenditure by various CPSEs and ministries.

As per Public Enterprises Survey 2017-18 that was laid in the Parliament on 27.12.2018, there were 339 Central Public Sector Enterprises (CPSEs) as on 31.03.2018.

Niti Aayog has identified 35 PSUs, including Air India, Air India's subsidiary AIATSL, Dredging Corporation, BEML and Scooters India for strategic sale.

To start with, the finance ministry will provide a platform for only 'AAA' and 'AA' rated Central Public Sector Enterprises (CPSEs) to raise funds by way of bond issuance using the debt ETF route.

The Finance Ministry is banking on merger and acquisitions among CPSEs and share buybacks by state-run companies to meet the Rs 80,000-crore disinvestment target for the current fiscal.

The government last October invited bids from similarly placed central public sector enterprises (CPSEs) for buying out entire 100 percent stake in them, along with management control.

Faced with inordinate delay in closing down sick CPSEs, the government has come out with timelines for disposal of movable assets, sale of land and retrenchment of employees not opting for voluntary retirement.

Mukherjee highlighted the significant role played by central public sector enterprises (CPSEs) in the country's development and noted that long-term growth prospects of the Indian economy continue to be positive.

  NITI Aayog will submit a blueprint for divesting government's stake in some PSUs and strategic sale of those that have been sick for a long time by this month.

The tenure of anti-corruption officials working in Central Public Sector Enterprises (CPSEs) cannot be extended without the mandatory nod from the minister concerned, the Centre has said.

Topping the list, Maharashtra alone claimed 20 percent in the total, followed by Andhra Pradesh (8.4 percent), Tamil Nadu (8.1 percent), Odisha (6.7 percent) and Uttar Pradesh (6.2 percent), the study said.