TIWN

New Delhi, Oct 10 (TIWN) The government's final move to privatise the national carrier Air India has given a fresh lease of life to its strategic disinvestment plan.
The Department of Investment and Public Asset Management (DIPAM), which oversees the disinvestment policy, is now planning to cede management control over a dozen public sector enterprise in the next six months. Sources said the successful culmination of the Air India disinvestment process has upped investor interest in picking up management control of public sector undertakings put on the block for privatisation. Overseas investors are also looking at the country's disinvestment plan with interest. The government wants to tap into this positive sentiment, which has also been heightened with a Moody's upgrade of the country's ratings, to put its strategic disinvestment plan on the fast track.
Government sources said they had received inquiries from multinational corporations about their possible participation in the strategic disinvestment plan post the Centre's decision to amend retrospective taxation provisions in the Income Tax Act. The amendment introduces certainty on taxation regulations and has improved India's ranking by several notches on the ease of doing business index.
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