India To List Seven State-Run Firms As It Races To Meet Divestment Target

India will list seven state-run firms on stock exchanges as it looks to contain its widening fiscal deficit.

An Indian two thousand rupee banknote is arranged for a photograph in Mumbai. (Photographer: Dhiraj Singh/Bloomberg)

India plans to list seven state-run companies through initial public offerings as it aims to meet its divestment target and contain the risk of a fiscal slippage.

Also Read: How ETFs Helped Government’s Divestment Goals

Key Cabinet Decisions

Space Flight Programme

  • India approved a plan to send a three-member crew to space, taking the first step to fulfil Prime Minister Narendra Modi’s promise to make it the fourth nation to send a manned space mission.
  • First human space flight demonstration will be be completed in 40 months of the announcement, Prasad said. The Cabinet Committee of Economic Affairs approved Rs 10,000-crore funding for the programme.

Minimum Support Prices

  • The government also increased the minimum support price for copra by more than Rs 2,000 a quintal for 2019 season. The MSP of milling Copra to be Rs 9,521 a quintal and that of ball copra to be Rs 9,920 a quintal.

Other Decisions

  • A National Commission for Indian System of medicine bill will be announced soon. A National Commission for homeopathy bill, too, will be introduced.
  • The second bi-annual update report sent by India to the United Nations Framework Convention on Climate Change has been approved.
  • Coastal regulation zone 2018, which are standards for construction along the coast, has been approved.
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