Thursday, December 26, 2019

Delay in Air India, BPCL, Concor sale may lead revenue shortfall of Rs 50,000 crore for govt, says report

The government may not be able to complete the privatization of Air India, Bharat Petroleum Corporation Ltd (BPCL) and Container Corporation of India Ltd (Concor) by end-March, resulting in revenue shortfall of around Rs 40,000-50,000 crore, reported LiveMint.

“There is a lot of interest in the market among investors for the companies on offer. The transaction may also be completed successfully, but now it looks difficult that the money will reach the coffers before 31 March. That is a challenge," the report quoted a finance ministry official.

This may also lead the government to not meet its fiscal deficit target of 3.3 percent of the Gross Domestic Product (GDP).
26/12/19 CNBC TV18

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