In the first combined announcement of the Rail and Union Budget Wednesday, the Railways Ministry was caught off-guard when Finance Minister Arun Jaitley announced that three of its public sector undertakings (PSUs) would be listed on Indian bourses.
Sources told the Indian Express this announcement came barely two days after the issue was first discussed at a meeting on Monday.
“With no indication that the future of its PSUs was up for discussion, the ministry did not send any Railway Board member for the meeting. A joint secretary-level officer and an additional member attended the meeting with NITI Aayog officials and Secretary, Department of Investment and Public Asset Management (DIPAM),” the Indian Express article reports.
Sources say these officials were only asked if the ministry had any objection to the listing of some of its PSUs for better capital inflow and market competitiveness. Read More…