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NITI Ayog all set to submit recommendations on non-performing CPSEs to PMO

In a move aimed at taking the final call on the fate of non-performing Central Public Sector Enterprises (CPSEs), the NITI Ayog is all set to submit its first set of recommendations on revival as well as disposal of non-performing CPSEs to the Prime Minister’s Office. 

The decision in this regard was taken after the NITI Ayog held a high-level meeting with the stakeholders concerned to finalise the list of sick PSUs on Tuesday.

At the meeting it was decided to include two more members – one from the Expenditure Department of the Finance Ministry, while the other from the Industrial Development — into the committee probing the matter of disposal of non-performing PSUs. The Expenditure Department representative would take the final call on the revival of sick CPSEs, while the Industrial Development member will decide about the disposal of units.

The three other members in panel are NITI Aayog chairman Arvind Panagariya, Ayog’s CEO Amitabh Kanth and PK Mishra, who is Additional Principal Secretary to PMO.

The PMO had set up a group to study the feasibility of sick PSUs and the NITI Ayog was tasked to prepare a final report in consultation with different stakeholders on the fate of non-performing CPSEs.

According to the Budget 2016-17, the Centre has set a target to collect Rs 56,500 crore through disinvestment in PSUs this fiscal. Of the total budgeted proceeds, Rs 36,000 crore is estimated to come from minority stake sale in PSUs, and the remaining Rs 20,500 crore from strategic sale in both profit and loss-making companies.
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