BPCL, Concor, Air India divestments unlikely this fiscal

Strategic divestments in Air India, Bharat Petroleum Corporation (BPCL) and Container Corporation of India (Concor) are “unlikely” this fiscal, Press Trust of India reported, citing a senior government official. This threatens the government’s budget-gap goal of 3.3% of gross domestic product. The government has set ambitious targets from the disinvestments in FY20 at ₹1.05 lakh crore.

The process “throws surprises”, causing delays, the report quoted the official as saying.

The cabinet committee on economic affairs in November decided to sell the government’s entire stake in the country’s second-largest state refiner, BPCL, and India’s largest shipping company, Shipping Corp. of India Ltd. It also approved transferring ownership of Concor.