PSUs in non-strategic sectors to be privatised, says FM Sitharaman

Finance Minister Nirmala Sitharaman on Sunday said a new "coherent" public sector enterprises policy will be formulated that will define strategic sectors which will have not more than four PSUs.

List of strategic sectors requiring presence of public sector undertakings (PSUs) in public interest will be notified, she said while announcing her fifth and final economic stimulus package, news agency PTI reported.

In strategic sectors, at least one enterprise will remain in the public sector but private sector will also be allowed.

In other sectors, PSUs will be privatised.

"To minise wasteful administrative costs, number of enterprises in strategic sectors will ordinarily be only one to four; others will be privatised/merged/brought under holding companies," she said.