The Modi government is filling its coffers by depleting those of state-owned companies ...Middle East

Quartz - Economy

The Narendra Modi government is solving one problem by creating another.At a time when the Indian government’s revenues are low and it needs to increase spending to battle the Covid-19 pandemic, it is banking on state-owned companies to meet its deficit. The center has reportedly told eight state-owned companies to buy back their shares, which will help the government—the largest shareholder in these companies—raise funds as it can tender its shares for cash.In addition, the government has also asked these companies to dole out dividends each year so it makes money on the stake it holds.Read the rest of this story on qz.com. Become a member to get unlimited access to Quartz’s journalism.

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Last updated : 23 Nov 2020 clock 07:45 AM

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The Modi government is filling its coffers by depleting those of state-owned companies ...Middle East

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