India's privatisation programme stalls again

IndiaÆs coalition government abandons stake sale plans after kneejerk reaction to sale of 10% stake in Neyveli Lignite.

The fragile nature of IndiaÆs ruling coalition government was clearly in evidence last week when disinvestment plans were, yet again, put on hold. The decision was precipitated by a chain of events sparked by the governmentÆs announcement to offload a 10% stake in the Neyveli Lignite Corporation.

On June 22 IndiaÆs Cabinet Committee for Economic Affairs had approved the disinvestment of 10% stake in two companies, National Aluminium Company and Neyveli Lignite. The government owns 87% in the former and....

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