These firms will then be out of oversight agencies like Central Vigilance Commission and Comptroller and Auditor General of India. "The basic understanding is that we can go below 51 per cent on a case-to-case basis. How 51 per cent is to be calculated also has to be stated. Government has also decided to modify present policy of retaining 51 per cent stake inclusive of stake from government-controlled institutions. In 2018-19, Power Finance Corp acquired the Centre's 52.63 per cent stake in Rural Electrification Corp for Rs 14,500 crore.

Source: Economic Times September 29, 2019 03:11 UTC