Economic affairs secretary Subhash Garg said his ministry would be looking at options other than the Air India divestment. The finance ministry has long debated offloading part of this treasure held by SUUTI through a new exchange traded fund for PSUs. The Niti Aayog had already recommended 40 sick PSUs for strategic divestment. "As informed by the transaction adviser, no response has been received for the expression of interest floated for the strategic divestment of Air India," the ministry said in its tweet in the evening. The no-bid embarrassment happened even though the government had already extended the deadline for filing expressions of interest to May-end.

Source: The Telegraph May 31, 2018 19:52 UTC