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No more assets sale this year
By agencies
|
Wednesday, 05 October 2005, 19:30 IST
NEW DELHI: India will not sell shares in any other company except car company Maruti Suzuki, a government official has said.
The present UPA governments privatization agenda, aimed at raising money for ambitious schemes has repeatedly run into rough weather with the communists warning the Government from selling stakes.
The political climate is not conducive. There is a positive slowdown in disinvestment of PSUs (public sector units). I think only Maruti share sale will happen this year, a top finance ministry official said.
Meanwhile global rating agency Standard and Poors said that India was unlikely to meet its fiscal deficit target of 4.3 percent of gross domestic product for the financial year to March 2006 due to increased expenditure. Indias economic progress will remain favorable and robust, Ping Chew, director of sovereign ratings said.