Defcon 1
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New Delhi: A proposal for disinvestment of 10 percent of government equity in the country's only state-owned aerospace firm Hindustan Aeronautics Limited was approved by the Union Cabinet on Thursday.
The government expects to raise at least Rs 2500 crore by divesting 10 percent from the company having 100 percent share-holding in it, sources said.
The disinvestment proposal had been mooted before the Cabinet Committee on Economic Affairs amid government's plans to modernise the company for which Rs 20,000 crore would be required over next five years.
The HAL along with eight other PSUs is under the Defence Ministry but the proposals for diluting government equity in them are moved by the Department of Disinvestment only. The government had set up expert groups under former Cabinet Secretary BK Chaturvedi for the restructuring of the HAL and is awaiting its report for suggesting measures for strengthening it.
HAL is at present handling key projects for the Indian armed forces such as the development of the Tejas light combat aircraft, Dhruv advanced light helicopters, indigenous production of Russian-origin Su-30MKI fighter planes. It is preparing to handle future projects such as the indigenous production of medium multi-role combat aircraft (MMRCA) and fifth-generation fighter aircraft (FGFA), light utility helicopters and multi-role transport aircraft (MTA).
HAL would also be involved in the production of 108 multirole combat aircraft for the IAF which are expected to cost the exchequer more than Rs 60,000 crore.
CCEA approves disinvestment of 10% govt stake in Hindustan Aeronautics
I didn't know that the number of AMCA to be inducted have already been decided. I expected 8 squadrons, but it seems that there are only 5 to be inducted.
The government expects to raise at least Rs 2500 crore by divesting 10 percent from the company having 100 percent share-holding in it, sources said.
The disinvestment proposal had been mooted before the Cabinet Committee on Economic Affairs amid government's plans to modernise the company for which Rs 20,000 crore would be required over next five years.
The HAL along with eight other PSUs is under the Defence Ministry but the proposals for diluting government equity in them are moved by the Department of Disinvestment only. The government had set up expert groups under former Cabinet Secretary BK Chaturvedi for the restructuring of the HAL and is awaiting its report for suggesting measures for strengthening it.
HAL is at present handling key projects for the Indian armed forces such as the development of the Tejas light combat aircraft, Dhruv advanced light helicopters, indigenous production of Russian-origin Su-30MKI fighter planes. It is preparing to handle future projects such as the indigenous production of medium multi-role combat aircraft (MMRCA) and fifth-generation fighter aircraft (FGFA), light utility helicopters and multi-role transport aircraft (MTA).
HAL would also be involved in the production of 108 multirole combat aircraft for the IAF which are expected to cost the exchequer more than Rs 60,000 crore.
CCEA approves disinvestment of 10% govt stake in Hindustan Aeronautics
I didn't know that the number of AMCA to be inducted have already been decided. I expected 8 squadrons, but it seems that there are only 5 to be inducted.
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