The Government May Consider Upping Mandatory 10% Public Float

INDIAN GOVERNMENTThe government may consider upping the mandatory 10% public float for public sector units in fiscal 2012, sources from the finance ministry inform CNBC-TV18. The ministry had announced mandatory 25% float in June 2010.

With divestment continuing to be the thrust area for the government, its move to hike divestment will help mop-up resources in FY12. Sources further inform that the scope to raise tax rates sharply is limited to some extent. Also, non-tax revenues will boost fiscal consolidation efforts as per sources from the ministry.

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