Cabinet empowers PSU boards to take decision on disinvestment, closure of subsidiaries

New Delhi [India], May 18 (ANI): The Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday approved the proposal for empowering the Board of Directors of public sector undertakings to recommend and undertake the disinvestment or closure of their subsidiaries or sale of stakes in joint ventures (JVs).

The Cabinet has also empowered Alternative Mechanism to accord 'in principle' approval for disinvestment (both