The Cabinet Committee on Economic Affairs (CCEA) has given its ‘in principle’ approval for strategic disinvestment of 4 Central Public Sector Enterprises (CPSEs) & 2 Odisha State PSUs in Neelachal Ispat Nigam Limited (NINL). NINL is a Joint Venture company in which 4 CPSEs & 2 State PSUs have equity shareholding. The 4 CPSEs includes Minerals & Metals Trading Corporation (MMTC), MECON, Bharat Heavy Electricals (BHEL) and National Mineral Development Corporation (NMDC). 2 Odisha State PSUs includes Industrial Promotion and Investment Corporation of Odisha (IPICOL) and Odisha Mining Corporation (OMC).
The advances from the disinvestment are expected to finance the development programmes of the Govenrment launched for the public.
Important takeaways for all competitive exams:
- Prime Minister Narendra Modi is the Chairman of Cabinet Committee on Economic Affairs.