Friday 19 April 2019
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business-standard - 4 days ago

CPSEs to get 12 months to sell non-core assets, failure may lead to budget cuts

State-run companies will have 12 months to monetise non-core assets identified by a ministerial panel headed by the finance minister, failing which the finance ministry may restrict budgetary allocations to the CPSEs. The Department of Investment and Public Asset Management (DIPAM) Monday issued the guidelines for monetisation of non-core assets of CPSEs and immovable enemy properties, following a Cabinet decision in February. According to the guidelines, an inter-ministerial group (IMG), chaired by the secretary of DIPAM, will identify the non-core assets of the CPSEs on its own and also on the basis of recommendations of the Niti Aayog. The final call, however, will be taken by the finance minister-headed panel. Once the Alternative Mechanism, comprising the finance minister, road transport minister and the minister of concerned administrative ministry, approves the assets for monetisation, it should be completed within 12 months from the date of approval. This will be the target to


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