{"id":427017,"date":"2021-07-23T08:11:01","date_gmt":"2021-07-23T02:41:01","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=427017"},"modified":"2021-07-23T09:31:27","modified_gmt":"2021-07-23T04:01:27","slug":"union-cabinet-eases-foreign-investment-rules-to-aid-bpcl-sale-report","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/union-cabinet-eases-foreign-investment-rules-to-aid-bpcl-sale-report\/","title":{"rendered":"Union Cabinet eases foreign investment rules to aid BPCL sale: Report"},"content":{"rendered":"<p>Union Cabinet approved plans on Thursday to allow 100% foreign direct investment in state-run oil companies in which a strategic stake sale is announced, a move to help privatisation of Bharat Petroleum Corp, two government sources said, Reuters reported.<\/p>\n<p>&#8220;Foreign investment up to 100% under automatic route is allowed in cases where government has accorded in-principle approval for strategic disinvestment of the PSU (public sector undertaking) engaged in petroleum and natural gas sector,&#8221; said one of the sources. <\/p>\n<p>India so far allows 49% foreign direct investment in state-run oil and gas companies. The government wants to sell its near 53% stake in BPCL, India&#8217;s second-largest state-run refiner, in this financial year ending in March 2022, as part of plans to raise Rs 1.75 trillion from stakes in companies.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Union Cabinet approved plans on Thursday to allow 100% foreign direct investment in state-run oil companies in which a strategic stake sale is announced, a move to help privatisation of Bharat Petroleum Corp, two government sources said, Reuters reported. &#8220;Foreign investment up to 100% under automatic route is allowed in cases where government has accorded in-principle approval for strategic disinvestment of the PSU (public sector undertaking) engaged in petroleum and natural gas sector,&#8221; said one of the sources. India so far allows 49% foreign direct investment in state-run oil and gas companies. The government wants to sell its near 53% [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-427017","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/427017","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=427017"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/427017\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=427017"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=427017"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=427017"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}