Govt mulls entity to revive sick units using CPSEs’ extra cash



News:

  • The government is mulling setting up a Finance Corporation to utilise around Rs 2 lakh crore surplus cash of state-owned enterprises lying idle in banks, said Union Heavy Industry and Public Enterprises Minister Anant Geete.
  • The funds may be used for purposes like reviving sick PSUs and investment in infrastructure projects.
  • The entity may be a joint venture firm funded by seed equity from Maharatna and other cash-rich central public sector enterprises (CPSEs) to administer and manage sick state-run enterprises that can be revived.

Source: ET


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