Friday, 3 February 2017

Government planning to divest stake in IRCTC

The Indian Government has said that it is aiming big ticket divestment through listing of railway PSU IRCTC. Commenting on the issue, Finance Minister Arun Jaitley said, "Listing of IRCTC will be a big time ticket item and will have huge consequences." As per reports, disinvestment proceeds are pegged at Rs 72,000 crore for FY2017-18 in the budget presented yesterday. “Listing of PSEs on stock exchanges needs the government ownership share to come down to 74 per cent,” Jaitley further said. 

The Minister further mentioned that to implement Universal Basic Income Scheme, political maturity was needed to adopt this better alternative to subsidies and this was one step further in direct targeting of government subsidies by putting money directly in hands of the people.

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