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Evaluating CPSEs

Investor engagement will increase transparency

CPSEs | Business Standard Editorial Comment

Business Standard Editorial Comment  |  Mumbai 

The much-awaited initial public offering (IPO) of the Life Insurance Corporation of India opened for subscription on Wednesday, and as of Thursday it was fully subscribed. The government is aiming to raise about Rs 21,000 crore from the issue under the disinvestment programme. The government reduced the disinvestment target significantly to Rs 65,000 crore for the current fiscal year, against the Budget estimate of Rs 1.75 trillion last year. Given the state of government finances, and the need to push capital expenditure to support growth, it is critical that the government focuses on disinvestment to raise resources. It now has a new policy, which envisages maintaining a minimum presence of central public sector enterprises (CPSEs) in strategic areas, while all other state-owned enterprises will be privatised. In order to get better valuation, either in the case of partial disinvestment through the stock market or outright privatisation, it is important that public sector assets are managed well.



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First Published: Thu, May 05 2022. 22:29 IST