March 7, 2019 / 8:05 AM / 3 months ago

India simplifies process for sales of state-run companies

Finance Minister Arun Jaitley gestures as he addresses a gathering during a seminar on 'Income Declaration Scheme-2016' in Ahmedabad, July 10, 2016. REUTERS/Amit Dave/Files

NEW DELHI (Reuters) - India has approved legislation that will simplify the sale of the government’s stakes in state-run companies, finance minister Arun Jaitley said on Friday.

New Delhi has been working to privatise often loss-making public companies, but was forced to shelf plans to sell national airline Air India last year after failing to attract a single bidder.

Reporting by Alasdair Pal

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