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New list of sick PSUs for divestment : NITI Aayog

Policy think-tank NITI Aayog recently declared that it is preparing another list of sick PSUs that can be privatised.

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Why in the news ?
  • Policy think-tank NITI Aayog recently declared that it is preparing another list of sick PSUs that can be privatised.

More on news
  • The Aayog has already recommended strategic divestment of 40 sick public sector units.
  • The Prime Minister’s Office (PMO) had asked the think- tank to look into the viability of sick state-run companies.
  • NITI Aayog already sent 4 list of sick PSUs and now is working on the fifth list.
  • The government expects to raise Rs 80,000 crore from PSU disinvestment in the next fiscal, lower than Rs 1 lakh crore raised this financial year.
  • The 2017-18 Budget had set the target of disinvestment in public sector units at Rs 72,500 crore.
  • This included Rs 46,500 crore as disinvestment of CPSEs, Rs 15,000 crore from strategic disinvestment and Rs 11,000 crore from listing of insurance companies.

NITI Aayog
  • The National Institution for Transforming India, also called NITI Aayog, was formed via a resolution of the Union Cabinet on January 1, 2015.
  • The Government of India  constituted the NITI Aayog to replace the Planning Commission instituted in 1950.
  • NITI Aayog is the premier policy ‘Think Tank’ of the Government of India, providing both directional and policy inputs.
  • While designing strategic and long term policies and programmes for the Government of India, NITI Aayog also provides relevant technical advice to the Centre and States.
  • An important change from the past will be replacing a centre-to-state one-way flow of policy by a genuine and continuing partnership with the states, in order to foster cooperative federalism recognizing that strong States make a strong nation.
  • This was done in order to better serve the needs and aspirations of the people of India.
  • The NITI Aayog will comprise the following:
  • Prime Minister of India as the Chairperson.
  • Vice-Chairperson: To be appointed by the Prime Minister.
  • Governing Council comprising the Chief Ministers of all the States and Lt. Governors of Union Territories
  • Regional Councils will be formed to address specific issues and contingencies impacting more than one state or a region.   
  • Experts, specialists and practitioners with relevant domain knowledge as special invitees nominated by the Prime Minister
  • The full-time organizational framework will comprise of, in addition to the Prime Minister as the Chairperson.
  • Members: Full-time
  • Part-time members: Maximum of 2 from leading universities research organizations and other relevant institutions in an ex-officio capacity.
  • Part time members will be on a rotational basis.
  • Ex Officio members: Maximum of 4 members of the Union Council of Ministers to be nominated by the Prime Minister.
  • Chief Executive Officer : To be appointed by the Prime Minister for a fixed tenure, in the rank of Secretary to the Government of India.
  • Secretariat as deemed necessary.

Source

India Express, PIB and NITI Aayog.
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