Listing of IRCTC will be a big-ticket item: FM Jaitley

Government is aiming big ticket divestment through listing of railway PSU IRCTC.

"Listing of IRCTC will be a big time ticket item and will have huge consequences," a release by RP Sanjiv Goenka group quoting Union Finance minister Arun Jaitley as saying said.

Jaitley was speaking on Thursday at an interaction with industry leaders conducted by Sanjiv Goenka.

Disinvestment proceeds are pegged at Rs 72,000 crore for FY2017-18 in the budget presented yesterday.

Listing of PSEs on stock exchanges needs the government ownership share to come down to 74 per cent, Jaitley said.

Jaitley mentioned that to implement Universal Basic Income Scheme, political maturity is needed to adopt this better alternative to subsidies and this is one step further in direct targeting of government subsidies by putting money directly in hands of the people, the release said further.

Jaitley highlighted reforms in electoral funding have been undertaken for the first time in India and a limit of Rs 2,000 on cash donations to political parties has been the recommendation of the Election Commission.