India to sell national airline and other state-owned companies to raise funds
Asset sale proceeds are crucial for the government to meet its spending requirements and lower the budget deficit
01 February 2021 - 19:37
New Delhi — India plans to raise 1.75-billion rupees ($24bn) selling assets including its flagship carrier Air India and Bharat Petroleum Corporation as it attempts to raise funds to finance projects aimed at reviving Asia’s third-largest economy.
The government will also seek buyers for Shipping Corporation of India, IDBI Bank and two other banks, finance minister Nirmala Sitharaman said in her speech on Monday outlining the nation’s budget for the year starting April 1...
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