It is reported in the media that the Cabinet Committee on Economic Affairs has approved on 10th September proposal for a big sell out of PSU stakes. The Finance Ministry had proposed shares sales of 10 per cent in CIL (Coal India Ltd) , 5 per cent in ONGC(Oil and Natural Gas Corporation) and 11.36 per cent in NHPC (National Hydro electric Power Corporation)

It is estimated that 5 per cent disinvestment in ONGC alone will fetch Rs.18000 crore and  10 per cent stake sale in CIL will garner at least Rs. 25,000 crore. The stake sales will be completed through Offers for Sales conducted via e-auctions on the stock exchanges.

The BJP government is following the same drastic measures adopted by the UPA government, as part of the neo-liberal policies, which was rejected out right by the people in the elections to the 16th Loksabha.