The Commerce Times

Indian PSUs to be listed on stock exchanges

Mumbai:

Along with listing profitable public sector companies, the government has also decided to increase public holding in the listed companies to at least 10 per cent. Until now, the United Progressive Alliance government, in its second term, has listed two energy PSUs—NHPC and Oil India—on the stock exchange.

Government officials have decided to list profitable companies on the stock exchange and give the common man an opportunity to share in the growth of central public sector enterprises by offering the public a chance to invest in at least 10 per cent of the equity.

The unexpected and severe drought posed special challenges in managing the economy in 2009. “My government joined hands with the states to help the farmers in minimizing the impact of this massive adversity,” President Shrimati Pratibha Devisingh Patil said. A sum of more than INR (rupees) 4000 crore (ten million) has so far been allocated from the National Calamity Contingency Fund and the Calamity Relief Fund to be used by the states affected by drought.

A Diesel Subsidy Scheme was introduced the use of diesel-powered water pumps to drive down costs while irrigating drought-affected areas. Funding for Centrally Sponsored Schemes, such as the Rashtriya Krishi Vikas Yojana and the National Food Security Mission, were used to create agricultural infrastructure for facilitating crop specific strategies  to minimize loss in production due to drought.

An amendment in the Mahatma Gandhi National Rural Employment Guarantee Scheme was made to allow water conservation works in the fields of small and marginal farmers, as well. It was due to these efforts that the decline in food production could be contained to a large extent. Special efforts were made to ensure that the spring harvest was not affected.

“We now look forward confidently to further improvement in our growth performance in 2010-11,” said Patil. “My government will aim at a growth rate above 8% in 2010-11 and seek to achieve 9% growth in 2011-12. We will concentrate on infrastructure development, agriculture and rural development, education and health and ensure that the growth process is adequately sensitive to the concerns and well being of the weaker sections of society. We will work to create an environment which encourages investments, including in Micro, Small, and Medium Enterprises.”