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Responding to a query, Naik mentioned a complete of Rs 14,184.70 crore was collected by lowering stakes in Hindustan Aeronautics Restricted (
) whereas the quantity was Rs 8,073.29 crore from Bharat Electronics Restricted () and Rs 2,371.19 crore from (BDL).
Equally, Rs 434.14 was fetched from Mishra Dhatu Nigam Restricted (
), Rs 420.52 crore from Backyard Attain Shipbuilders & Engineers Ltd (GRESE) and Rs 974.15 crore was collected from Mazagon Dock Shipbuilders Restricted (MDL).
He mentioned the coverage of disinvestment of minority stake with out switch of administration management is being adopted for precedence sector together with defence to unlock worth, promote public possession.
The minister mentioned the coverage can be aimed toward assembly the minimal public shareholding norms of SEBI (Securities and Trade Board of India) and for making certain increased diploma of accountability.
HAL is India’s aerospace behemoth whereas MDL and GRESE are the nation’s premier shipbuilders.
Mishra Dhatu Nigam Restricted (MIDHANI) produces varied tremendous alloys, metal parts and different supplies for defence and different strategic sectors. BDL is one in every of India’s main producers of ammunition and missile methods whereas BEL is an aerospace firm.
To a separate query, Naik mentioned capital procurement of defence gear is undertaken from varied home in addition to international distributors, primarily based on menace notion, operational challenges and technological modifications and to maintain the armed forces in a state of readiness.
“Authorities is taking measures for modernisation of the armed forces, via procurement of recent gear and upgrading of present gear in order to make sure that the armed forces are outfitted to satisfy your entire spectrum of safety challenges,” he mentioned.