Cabinet approves 10 percent stake sale in Engineers India - minister
NEW DELHI (Reuters) - The Indian cabinet approved the sale of a 10 percent stake in state-run Engineers India Ltd (ENGI.NS), a government minister told reporters on Thursday, continuing a process of off-loading state assets to shore up strained government finances.
The minister declined to be named.
The government aims to raise 300 billion rupees from share sales in state-run companies in the fiscal year that ends in March. Thus far, it has managed to garner just under 25 percent of that target.
(Reporting by Nigam Prusty; Editing by Sunil Nair)
- Tweet this
- Share this
- Digg this
Trending On Reuters
India's main public health programmes, aimed at millions of rural poor, have been in disarray for months because the government changed the way that over $1.3 billion in funds were distributed, according to data and letters seen by Reuters. Full Article | Graphic: India's health funding