The government has plans to raise as much as 3.25 trillion rupees in the next five years by reducing its stakes in some large state-owned firms to 40%, two senior government officials told Reuters, in the nation's biggest privatisation push in more than two decades.

Last week, finance minister <a href="https://www.google.com/url?client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;q=https://www.wionews.com/business-economy/budget-2019-nirmala-sitharaman-to-launch-study-in-india-initiative-to-encourage-foreign-students-233240&amp;sa=U&amp;ved=2ahUKEwjngeeHjK_jAhULbo8KHQhRD_0QFjAAegQIABAC&amp;usg=AOvVaw05Zl3o-mH6_vHpdxNAwju9">Nirmala Sitharaman</a> in her budget announced that the government will look to reduce direct controlling stakes in some state-run firms on a case-by-case basis.

The plan will open up a steady stream of state companies to greater private investment, and target the kind of annual divestment revenue that will be crucial to meet fiscal deficit targets.

Prime Minister Narendra Modi's administration already sold government stakes in a host of companies to raise a record $40.92 billion in his first five-year term, nearly three times the divestment proceeds of $14.52 billion achieved by the Congress party government in 2009-2014. Modi was re-elected for a second term in a landslide victory in April-May.

The government has identified a number of state-owned firms, including explorer Oil and Natural Gas Corp, oil refiner Indian Oil Corp, gas transmitter GAIL (India) Ltd, power producers NHPC Ltd and NTPC, miners NMDC Ltd and Coal India, and Bharat Heavy Electricals Ltd, said the sources, who declined to be named due to the sensitive nature of the matter.

"We have done a calculation on current prices and we could get 3.25 trillion rupees if we bring our stake down to 40% in government companies, excluding banks," one of the officials, said.

The government has plans to raise as much as 3.25 trillion rupees in the next five years by reducing its stakes in some large state-owned firms to 40%, two senior government officials told Reuters, in the nation's biggest privatisation push in more than two decades.

The government has plans to raise as much as 3.25 trillion rupees in the next five years by reducing its stakes in some large state-owned firms to 40%, two senior government officials told Reuters, in the nation's biggest privatisation push in more than two decades. Last week, finance minister Nirmala Sitharaman in her budget announced that the government will look to reduce direct controlling stakes in some state-run firms on a case-by-case basis. The plan will open up a steady stream of state companies to greater private investment, and target the kind of annual divestment revenue that will be crucial to meet fiscal deficit targets. Prime Minister Narendra Modi's administration already sold government stakes in a host of companies to raise a record $40.92 billion in his first five-year term, nearly three times the divestment proceeds of $14.52 billion achieved by the Congress party government in 2009-2014. Modi was re-elected for a second term in a landslide victory in April-May. The government has identified a number of state-owned firms, including explorer Oil and Natural Gas Corp, oil refiner Indian Oil Corp, gas transmitter GAIL (India) Ltd, power producers NHPC Ltd and NTPC, miners NMDC Ltd and Coal India, and Bharat Heavy Electricals Ltd, said the sources, who declined to be named due to the sensitive nature of the matter. "We have done a calculation on current prices and we could get 3.25 trillion rupees if we bring our stake down to 40% in government companies, excluding banks," one of the officials, said.

Government seeks to raise $47 billion from stake sales in state firms over five years: Sources

Following a search operation&nbsp;yet another body of a crew member&nbsp;was recovered&nbsp;in the&nbsp;of <a href="http://www.wionews.com/india-news/six-bodies-recovered-in-pawan-hans-helicopter-crash-29442">Pawan Hans helicopter crash</a>.

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet" data-lang="en">
ONGC&#39;s Pawan Hans helicopter crash: Body of another crew member recovered during search operations. Parts of the helicopter like Rotor Blades, Main Gear Box, Tail Gear Box, both engines, Emergency Locator Transmitter (ELT) etc also recovered. <a href="https://t.co/gahSi0JC4L">pic.twitter.com/gahSi0JC4L</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/952895814141177856?ref_src=twsrc%5Etfw">January 15, 2018</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">&times;</a></div>

Along with the body parts of the helicopter like rotor blades, main gearbox, tail gearbox, both engines, Emergency Locator Transmitter (ELT) etcetera were&nbsp;also&nbsp;recovered.

It may be recalled that five employees of state-owned Oil and Natural Gas Corporation (ONGC) and two pilots were onboard in the chopper when it crashed on the Arabian sea about 55 km northwest of Juhu airport, Mumbai on Saturday.

Six bodies were already recovered yesterday.&nbsp;

The Indian Coast Guard (ICG) has identified four bodies, Pankaj Garg, through his identity card and his colleagues V K Bindu Lal Babu, Jose Antony and P N Sreenivasan through family members.&nbsp;

Four Indian Naval ships (Teg, Tarasa, T 11 and T 45) were undertaking the search in the area.

The chopper, bearing registration number VT-PWA, was scheduled to land at the designated oil rig at Mumbai High at 11 am. Five employees of state-owned ONGC and two pilots were onboard the chopper.

A team from the Aircraft Accident Investigation Bureau is expected to reach Mumbai from Delhi on Sunday to probe the incident.

According to media reports, the cause of the accident could an aircraft engine mechanical failure or pilot disorientation owing to haze and poor visibility.&nbsp;

Along with the body parts of the helicopter like Rotor Blades, Main Gear Box, Tail Gear Box, both engines, Emergency Locator Transmitter (ELT) etc were also recovered

Following a search operation yet another body of a crew member was recovered in the of Pawan Hans helicopter crash. ONGC's Pawan Hans helicopter crash: Body of another crew member recovered during search operations. Parts of the helicopter like Rotor Blades, Main Gear Box, Tail Gear Box, both engines, Emergency Locator Transmitter (ELT) etc also recovered. pic.twitter.com/gahSi0JC4L — ANI (@ANI) January 15, 2018 × Along with the body parts of the helicopter like rotor blades, main gearbox, tail gearbox, both engines, Emergency Locator Transmitter (ELT) etcetera were also recovered. It may be recalled that five employees of state-owned Oil and Natural Gas Corporation (ONGC) and two pilots were onboard in the chopper when it crashed on the Arabian sea about 55 km northwest of Juhu airport, Mumbai on Saturday. Six bodies were already recovered yesterday. The Indian Coast Guard (ICG) has identified four bodies, Pankaj Garg, through his identity card and his colleagues V K Bindu Lal Babu, Jose Antony and P N Sreenivasan through family members. Four Indian Naval ships (Teg, Tarasa, T 11 and T 45) were undertaking the search in the area. The chopper, bearing registration number VT-PWA, was scheduled to land at the designated oil rig at Mumbai High at 11 am. Five employees of state-owned ONGC and two pilots were onboard the chopper. A team from the Aircraft Accident Investigation Bureau is expected to reach Mumbai from Delhi on Sunday to probe the incident. According to media reports, the cause of the accident could an aircraft engine mechanical failure or pilot disorientation owing to haze and poor visibility.

Pawan Hans helicopter crash: One more body found

oil-and-natural-gas-corporation

Oil And Natural Gas Corporation, News on Oil And Natural Gas Corporation, stories on Oil And Natural Gas Corporation, articles on Oil And Natural Gas Corporation, Oil And Natural Gas Corporation stories at Wion, Oil And Natural Gas Corporation news, Oil And Natural Gas Corporation latest news

oil and-natural-gas-corporation

Government seeks to raise $47 billion from stake sales in state firms over five years: Sources

Pawan Hans helicopter crash: One more body found