Indian Government has got the plans of selling Air India and other companies by 2020.
India plans to sell 2 to 3 state-owned companies to the local or international firms for increasing up to 600 million rupees ($8.5 billion) by March 2020, as per a senior official of the Finance Ministry on Monday.
The government intended to sell Bharat Petroleum Corp Ltd, Logistics company Container Corp of India Ltd and debt-laden Air India before the end of the present fiscal year, the official informed on the request of anonymity.
The Office of the Prime Minister had voiced their reservations regarding the past sales of stakes of the Ministry of Finance in one state entity to another, which was the case when refiner Hindustan Petroleum Corp Ltd was sold to Oil and Natural Gas Corp Ltd, the official added.
The official also said that the PMO is clear that they cannot be selling the government companies to another government firm and then refer to it as privatisation.