PM to address key webinar on implementation of Budget announcements with regards to disinvestments at 5:30 PM today

Prime Minister Narendra Modi will address a key webinar on the implementation of Budget announcements with regards to disinvestments this evening at 5:30 P.M. With this, the union government has kick started its disinvestment roadmap for the financial year 2021-22.

Finance Minister Nirmala Sitharaman along with representatives from various other key ministries including members from the Department of Investment and Public Asset Management (DIPAM) and experts from the private sector will also be attending the meet.

The Union Budget announced the shedding of the government stake in Life Insurance Corporation of India (LIC) through an initial public offering (IPO). For the next financial year, the government has also lined up privatisation of Air India, Bharat Petroleum Corporation (BPCL), Container Corporation of India (CONCOR), Pawan Hans, NINL and Shipping Corporation of India (SCI).

The Centre proposed a divestment target of Rs 1.75 lakh crore for the upcoming financial year in its Budget including divestment of its holdings in the Life Insurance Corporation of India (LIC) through an Initial Public Offering (IPO).

As part of the Atmanirbhar Bharat package announced last year, the government had announced increased participation of the private players in key strategic areas including atomic energy, space and defence, transport and telecommunications, power, petroleum, coal and other minerals and banking, insurance and financial services.