The Union Cabinet has cleared the privatisation of steel-maker Rashtriya Ispat Nigam Ltd (RINL), DIPAM Secretary Tuhin Kanta Pandey tweeted. The RINL strategic sale proceeds would be part of the disinvestment target for next fiscal.
The government has budgeted Rs 1.75 lakh crore from disinvestment in 2021-22 fiscal beginning April 1.
"CCEA on 27th Jan 2021 has given in principle approval for 100% strategic disinvestment of GOI shareholding in RINL along with management control by way of privatization," Pandey tweeted.
Strategic disinvestment of BPCL, Air India, Shipping Corporation of India, Container Corporation of India, IDBI Bank, BEML, Pawan Hans, Neelachal Ispat Nigam Ltd, among others, is scheduled to be completed in 2021-22.