Govt to sell BPCL, Air India by March: Minister

The government is aiming to complete the sale of state-run companies Air India and Bharat Petroleum Corporation (BPCL) by March, Finance Minister Nirmala Sitharaman said.

“We are moving on both with the expectation that we can complete them this year. The ground realities will play out,” Nirmala told 'The Times of India'.

The privatisation of the national carrier and oil refiner is expected to help the government meet its divestment target of Rs 1 lakh crore in the current fiscal year. This is the government’s second attempt to sell their stake in Air India.

In 2018, the government put up 76 percent of Air India for sale, which saw a weak demand from investors.

Nirmala also told the paper that there was a 'lot of interest' among investors for Air India, as seen during international road shows.

The finance minister also said that consumer sentiment was improving, adding that Rs 1.8 lakh crore in loans had been sought from banks at the outreach programme during the festival season.

(with news agency inputs)