{"id":86361,"date":"2019-11-22T16:22:11","date_gmt":"2019-11-22T10:52:11","guid":{"rendered":"http:\/\/factly.forumias.com\/?p=11820"},"modified":"2019-11-22T16:22:11","modified_gmt":"2019-11-22T10:52:11","slug":"cabinet-approves-strategic-disinvestment-of-bpcl4-other-psus","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/cabinet-approves-strategic-disinvestment-of-bpcl4-other-psus\/","title":{"rendered":"Cabinet approves strategic disinvestment of BPCL,4 other PSUs"},"content":{"rendered":"\n<p><strong>News:<\/strong>Union Cabinet chaired by the Prime Minister has approved the strategic disinvestment of BPCL and four other Public Sector Units(PSUs).<br><\/p>\n\n\n\n<p><strong>Facts:<\/strong><br><\/p>\n\n\n\n<p><strong>About the units for disinvestment:<\/strong>The Public Sector Units approved for strategic disinvestment are&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Bharat Petroleum Corp Ltd (BPCL).The Numaligarh Refinery Limited operating under BPCL is excluded.<\/li><li>Shipping Corporation of India (SCI)<\/li><li>Container Corporation of India (CONCOR)<\/li><li>Tehri Hydro Development Corporation India Limited (THDCIL) and&nbsp;<\/li><li>North Eastern Electric Power Corporation Limited (NEEPCO).<\/li><\/ul>\n\n\n\n<p><strong>About Disinvestment:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Disinvestment is defined as the action of an organisation or government selling or liquidating an asset or subsidiary.It is also referred to as divestment.<\/li><li>In the case of Public Sector Undertakings(PSU) disinvestment means Government selling\/ diluting its stake (share) in PSUs in which it has a majority holding.<\/li><li>Disinvestment is carried out as a budgetary exercise under which the government announces yearly targets for disinvestment for selected PSUs.<\/li><li>Department of Investment and Public Asset Management (DIPAM) under the Ministry of Finance is the nodal department for the strategic disinvestment sale.<\/li><li>Government has set the disinvestment target of 1.05 lakh crore for the current financial year 2019-20.<\/li><\/ul>\n\n\n\n<p><strong>Significance of disinvestment:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>It improves the structure of incentives and accountability of PSUs in India.<\/li><li>It can help in the revival of loss-making public sector enterprises(PSU).<\/li><li>It can help in financing the increasing fiscal deficit.<\/li><li>It can also finance the large-scale infrastructure development, defense, education and healthcare projects.<\/li><\/ul>\n\n\n\n<p><strong>Concerns on disinvestment:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>The process of disinvestment is not favoured socially as it is against the interest of socially disadvantageous people.<\/li><li>After disinvestment, the employees of Public Sector Units(PSUs) will lose their jobs.<\/li><li>Government\u2019s dividend income will also decline as it will have less shares in the PSUs.<\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>News:Union Cabinet chaired by the Prime Minister has approved the strategic disinvestment of BPCL and four other Public Sector Units(PSUs). Facts: About the units for disinvestment:The Public Sector Units approved for strategic disinvestment are&nbsp; Bharat Petroleum Corp Ltd (BPCL).The Numaligarh Refinery Limited operating under BPCL is excluded. Shipping Corporation of India (SCI) Container Corporation of&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/cabinet-approves-strategic-disinvestment-of-bpcl4-other-psus\/\">Continue reading <span class=\"screen-reader-text\">Cabinet approves strategic disinvestment of BPCL,4 other PSUs<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3127],"tags":[750],"class_list":["post-86361","post","type-post","status-publish","format-standard","hentry","category-economy","tag-disinvestment","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704826297},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/86361","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=86361"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/86361\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=86361"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=86361"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=86361"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}