The government is undertaking all the "necessary rigorous" work to complete the planned privatization processes by the end of this financial year, Finance Minister Nirmala Sitharaman said on Thursday

Speaking at the CII annual conclave, Finance Minister said: "Our commitment to disinvestment and privatization is firmly ingrained in the policy. There is no discretion and there is a calendar." The government has set a target to complete the privatization of Air India and BPCL, among other state-run companies and banks, in FY22. The minister further said that it is time that the Indian industry comes out and shows its risk-taking abilities and takes decisions to expand. 

Calling upon the industry to invest more in the country, the minister further said that it is time that the Indian industry comes out and shows its risk-taking abilities and takes decisions to expand. She also said the core sectors' growth of about 8.9 percent was largely because of public capital.

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