Now the number of government companies will be only 12, currently more than 300

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New Delhi, 9 February 2021 Tuesday

The government is preparing to reduce its stake in the non-strategic sector, bringing the number of public sector undertakings to about two dozen under this policy of privatization, currently numbering more than 300, out of which loss-making institutions will be shut down.

Based on the recommendations made by the Policy Commission, the Cabinet will decide on the future sale of PSUs. The Policy Commission has been tasked with compiling a list of potential selling companies. Only a dozen public sector companies will be with the government. Of these, mainly banks and insurance will be in the general insurance sector.

In his budget speech, the finance minister mentioned atomic energy, power, petroleum, coal and other minerals as well as banking, insurance and financial services as strategic sectors. Of these, 86 were under construction and 13 were closed.

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