The Union Budget 2021-22 has announced the privatisation of two public sector banks (in addition to IDBI Bank) and one general insurance company in the upcoming fiscal.
It also announced a strategic sale/disinvestment policy for four strategic sectors — including banking, insurance, and financial services — in which it will have a “bare minimum presence”.
Strategic Disinvestment: Strategic disinvestment would imply the sale of a substantial portion of the Government shareholding of a central public sector enterprise (CPSE) of upto 50%, or such higher percentage as the competent authority may determine, along with transfer of management control. |
Verifying, please be patient.