the Narendra Modi Government has opted for disinvestment. In its - TopicsExpress

the Narendra Modi Government has opted for disinvestment. In its first week in office, Modis Cabinet decided to initiate the process to sell its residual stakes in Hindustan Zinc Limited and Balco. The sale of the two companies is ex-pected to get the national exchequer Rs.15,000 crore and Rs.36,925 crore, respectively. The Government has 29.5 per cent stake left in Hindustan Zinc and 49 per cent in Balco the majority stake in both is held by the Anil Agarwal-led Vedanta Group after Atal Bihari Vajpayees NDA regime sold its controlling stake in the two companies between 2001 and 2003. Besides these two PSUs, as many as 35 others will have to dilute stakes worth Rs.61,282 crore in the next three years to comply with the new public shareholding guidelines stipulated by the Securities and Exchange Board of India (SEBI).

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