India disinvestment: on again?

India''s finance minister signals that disinvestment may resume.

Recent events suggest that the current Indian finance minister, P. Chidambaram, may be relaxing his stance over the disinvestment of non-navratna public sector undertakings PSU's. Navratna means jewel in Hindi and companies in these non-divestment sectors include energy, power and heavy engineering PSU's.

On at least three occasions over the last week - most recently at a press conference on November 16 - Chidambaram said the ruling coalition is now in agreement on the sale of minority stakes in some non-navratna companies. He further expressed optimism that some sales could even be executed during the current fiscal year ending March 2006.

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