May 10, 2013 8:29 AM

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Inter-ministerial Group approves 10% equity sale in Coal India

An Inter-ministerial Group, IMG, has approved 10 per cent equity sale in Coal India which is expected to fetch over 17,000 crore rupees to the government. The government holds 90 per cent stake in Coal India Ltd, CIL at present. The IMG, headed by Disinvestment Secretary Ravi Mathur, is guiding the process of disinvestment of government's equity in CIL. Coal India, which has a cash balance of about 60,000 crore rupees, will be the biggest disinvestment for the government in the 2013-14 fiscal.The government plans to raise 40,000 crore rupees by way of PSU stake sale this fiscal.The government says it has no intention of intervening in the decision of the Delhi University to introduce the four-year undergraduate programme from its coming academic session starting July this year. Minister of State for Human Resource Development Shashi Tharoor said it is not healthy for the country's education system to tell a vice-chancellor what to do and what not to do. The Minister said, the proposal to introduce the new undergraduate programme is not his decision. It is taken by the university and it is within its prerogative.

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