Delays in divestment of Bharat Petroleum Corporation’s (BPCL) stake by the Government will impact India’s fiscal deficit and risk its slippage beyond 3.5 per cent. The Government this week announced that would divest its 53 per cent stake in the public sector (PSU) refining major.
There is widespread belief in the stock markets that the Government stake in BPCL, worth more than Rs 50,000 crore, would be bought over by a consortium of players involving Saudi’s largest oil producer Aramco or another major global oil company but potential delay could hit India’s currency too, analysts say.
All eyes are not on conclusion of Aramco’s $25 billion IPO post, which the company is like to give a definitive idea on its investments in the Indian oil and gas sector. Read More
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