Air India, Bharat Petroleum to be sold by March 2020: A flood of responses started pouring in on Sunday, November  11, after Finance Minister Nirmala Sitharaman’s announcement of selling the shares of  Air India and oil refiner, marketer BPCL.  From sarcastic comments to hilarious one yet again, twitter has received one more reason to debate and discuss over a current issue.

One of the users wrote that it’s an extremely decision and also said that they should sell PSUs as they are a burden for the poor of this country. If Atal Bihari Vajpayee can privatise with half seats then Modiji can also do very well.

Another user wrote that it proves that the government is unable to run its own organizations successfully. They just want to get rid of them instead of making strategies to make them profitable.

 

Finance Minister Nirmala Sitharaman said while speaking to a leading daily that the government is looking for an investor for Air India and oil refiner, marketer BPCL as they are planning to wrap up the sale by March. While speaking to a leading daily, Sitharaman an investor showed interest in Air India. This is the same sale, which was aborted a year ago, due to slightly warm response.

Additionally, the minister pointed out that as the tax collections are under stress, the government is banking on receipts from the disinvestment to shore up revenues. Due to the right decision timing, several sectors have come out of the distress. Moreover, the strategic disinvestment of the two state-run companies is critical. It is available for the government to meet its disinvestment target of Rs 1 lakh crore for the current fiscal year.

However, Sitharaman said that she expected GST collections to be revived. There were signs of revival in consumer sentiment.

Regarding the Supreme Court’s recent verdict on Essar Steel, the minister said the ruling strengthened the constitutionality and legal strength of the IBC law resulting into a significant impact on the balance sheets of banks in the next quarter.

She further stated that consumer sentiment has shown some signs of revival which was manifested in demand of nearly Rs 1.8 lakh crore

The finance minister further added that the industry captains did their best to improve their balance sheet and serval are planning for fresh investment.

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