'Rigorous' work underway to achieve privatisation targets, says Finance Minister Nirmala Sitharaman

Exuding confidence that the targets for the proposed strategic sales would be achieved, Finance Minister Nirmala Sitharaman said on Thursday that the government is undertaking all the "necessary rigorous" work to complete the planned privatisation processes by the end of this financial year.

Speaking at the CII annual conclave, Sitharaman said: "Our commitment to disinvestment and privatisation is firmly ingrained in policy. There is no discretion and there is a calendar."

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The government has set a target to complete the privatisation of Air India and BPCL, among other state-run companies and banks, in FY22.

Calling upon the industry to invest more in the country, the minister further said that it is time that the Indian industry comes out and shows its risk-taking abilities and takes decisions to expand.

She also said the core sectors' growth of about 8.9 per cent was largely because of public capital expenditure.