India govt stake sales in state companies in 2-3 months: Official

Updated on Aug 30, 2014 06:14 PM IST

India will sell part of the government's stake in some state-run companies in the next two to three months, finance secretary Arvind Mayaram said on Saturday, without naming any company.

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Reuters | By, New Delhi

India will sell part of the government's stake in some state-run companies in the next two to three months, finance secretary Arvind Mayaram said on Saturday, without naming any company.

The government has set a target of $10.5 billion from asset sales during the current fiscal year to March 2015 to help plug its deficit.

The finance ministry this week short-listed banks to manage share sales in top energy explorer Oil and Natural Gas Corp and hydroelectric power generator NHPC Ltd, according to sources with direct knowledge.

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