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Govt to divest equity in profit making PSUs
By agencies
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Wednesday, 09 November 2005, 20:30 IST
MUMBAI: Finance Minister P. Chidambaram today said the government is looking at divesting a small portion of equity in profit making public sector enterprises other than the `Navratnas.'
"We have had discussions about disinvesting small portions of equity in selective profit making public sector enterprises other than the Navratnas," he said.
He also said the depreciation in rupee was not a cause of concern for the government at the moment. "We have always said that orderly movements in both ways is acceptable. It is only disorderly movement which should cause concern," Chidambaram said.
The rupee has over the past few months depreciated against the Yen, Pound and Euro. It has only appreciated against the dollar and that is because the Dollar has appreciated very strongly against the Euro, he added.
Asked whether fuel prices would have an impact on inflation, Chidambaram said it was likely to have an effect.
"As we said before, the pass through of fuel prices will have an impact on inflation. Inflation is roughly now at around 4.4 percent. RBI Governor and I have said that we expect inflation to be around five percent and that is unavoidable," Chidambaram said.