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India's privatization czar announced plans to complete the sale of 51% of Indian Airlines within the next 14 months, as part of a broader effort to privatize state-owned enterprises and promote economic growth. The government also announced plans to sell stakes in 20 to 25 other state enterprises, including Bharat Petroleum, Hindustan Zinc, and Videsh Sanchar Nigam, among others.The government's privatization efforts were seen as a significant step forward for the Indian economy, which had been struggling with a range of challenges related to slow growth, high levels of corruption, and a bloated public sector. By selling off state-owned enterprises, the government hoped to promote competition, stimulate investment, and create new opportunities for private sector growth.
Wednesday, 2 February, 2000