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Govt plans stake sales worth $5.4 billion in 7 state-run firms in FY17

Govt plans stake sales worth $5.4 billion in 7 state-run firms in FY17

Monday, April 17, 2017, 3:31 PM

Government plans to sell stakes worth $5.4 billion in seven state-run companies during current financial year as Asia's third-largest economy looks to fund its fiscal deficit amid ramped-up spending on rural areas and infrastructure. The part sale of government stakes in state-run and private firms is critical to meet fiscal deficit target of 3.2% of gross domestic product in the year to March 2018.
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