Exclusive: India likely to announce sale of IDBI bank, stake in LIC, sources say
India`s government plans to announce the sale of a 10% to 15% stake in state-run Life Insurance Corp, the country`s biggest insurer, in next week`s federal budget, as part of a privatisation push to improve public finances, two government sources said
Now the government is renewing its drive to sell stakes as it tries to shore up revenues following the deepest economic contraction in decades. Source: Reuters