The new mechanism will also empower the Core Group of Secretaries (CGD) to take policy decisions on procedural issues and to consider deviations as necessary from time to time for effective implementation of decisions of CCEA, the official statement said.
The government has set an ambitious target of Rs 72,500 crore for disinvestment in 2017-18 including Rs 15,000 crore from strategic disinvestment. In the current year so far, the government has raised Rs 4,153.65 through divestment of strategic holdings and income from management of SUUTI investment, as per data from the Department of Investment and Public Asset Management (DIPAM). The government holds equity in companies including L&T, ITC and Axis Bank through Specified Undertaking of UTI or SUUTI.
This year the government has shortlisted Bharat Earth Movers Limited, Scooters India and Pawan Hans Limited, three units of Steel Authority of India Limited (SAIL) for strategic disinvestment.
The CCEA also gave its approval to the scheme of providing budgetary support under the Goods and Service Tax (GST) regime for eligible industrial units in Jammu and Kashmir, Uttarakhand, Himachal Pradesh and north eastern states including Sikkim. “Industries in the north eastern and Himalayan states will continue to get tax exemption till March 2027, albeit as refund, under the current GST regime which was rolled out on July 1,” Jaitley said.