Union Budget 2021: Government will put more PSUs on Sale

Finance Minister Nirmala Sitharaman presented the Union Budget. While presenting the budget, she informed that the government has set a target of raising Rs. 2 lakh crore from disinvestment in the financial year 2021-22. This is about Rs. 35 thousand crore less than the previous financial year 2020-21. Significantly, in the last budget, the government had targeted to raise 2.1 lakh crore rupees from disinvestment.

The Finance Minister said in her budget speech that the government has a plan to raise Rs 1.75 lakh crore from disinvestment. So far, they have taken decisions regarding disinvestment in some government companies. The government aims to complete this in the financial year 2021-22.

Nirmala Sitharaman said that disinvestment in BPCL, Air India, CONCOR, IDBI and SCI could be signed in the next financial year. Apart from this, LIC’s IPO also plans to be launched in the next financial year.

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In view of the boom in the stock market, the central government can also sell its stake in some CPSEs through Offer for Sale. At the same time, the government will also complete other privatization deals in the new financial year.

According to the information, the government has also prepared to sell its entire stake (52.98 per cent) i.e. 114.91 crore shares in BPCL. BPCL is the second largest oil company in the country, with a strong balance sheet. The company has always been giving profits to the government.

Actually, BPCL has around 17 thousand 138 petrol pumps across the country. The government has announced that the management control of the company will also be transferred to the strategic buyer of BPCL. This means that the ownership of the company will also go to the buyer. Explain that the government can get around 60 thousand crore rupees by selling BPCL.

Meanwhile, the state-run airline Air India is also in debt. In such a situation, the government wants to get rid of it. In the year 2020, the government made several bids to sell Air India, but they could not find a buyer. The government will sell it in the next financial year.

Significantly, Air India currently has a loan of Rs 60 thousand 74 crore, but after the acquisition, the buyer will have to pay only 23 thousand 286.5 crore.