Govt says to sell 5 percent stake in steel firm SAIL

NEW DELHI (Reuters) - The new government plans to sell a 5 percent stake in state-run Steel Authority of India Ltd this fiscal year ending March, Finance Minister Arun Jaitley said on Friday.

Prime Minister Narendra Modi, who won a landslide election victory in May largely on a promise of economic growth, is expected to speed up divestments to bolster revenue generation.

Reuters reported about the stake sale on June 17 citing sources.

(Reporting by Krishna N Das; editing by Mayank Bhardwaj)