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India govt approves 10 pct stake sale in Engineers India - minister

Source : REUTERS
Last Updated: Thu, Jan 10, 2013 07:50 hrs

NEW DELHI, Jan 10 (Reuters) - The Indian cabinet approved the sale of a 10 percent stake in state-run Engineers India Ltd , a government minister told reporters on Thursday, continuing a process of off-loading state assets to shore up strained government finances.

The minister declined to be named.

The government aims to raise 300 billion rupees from share sales in state-run companies in the fiscal year that ends in March. Thus far, it has managed to garner just under 25 percent of that target. (Reporting by Nigam Prusty; Editing by Sunil Nair)

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