Cabinet approves 10% divestment in Coal India

Zee Media Bureau

New Delhi: The Union cabinet on Wednesday approved 10 percent stake sale in Coal India that could fetch up to Rs 20,000 crore to the exchequer.

The government currently holds 79.65 percent stake in Coal India (CIL).

The government had last sold 10 percent stake in the bluechip coal major on January 31, 2015. It had then garnered Rs 22,557 crore to the exchequer.

So far this fiscal, due to volatile markets the government has sold stake in two PSUs -- REC and PFC -- and garnered over Rs 3,000 crore.

The government has set a target of Rs 69,500 crore to be garnered through PSU stake sale.