New Delhi: The cabinet committee on economic affairs approved the sale of 5% of the government’s stake in India Tourism Development Corp. Ltd and 1.02% in State Trading Corp. of India Ltd, in order to make them compliant with public shareholding norms, information and broadcasting minister Manish Tewari said on Thursday.
State-controlled companies are required to have a public shareholding of at least 10%, according to the new rules.
The cabinet also approved the setting up of National Capital Region Transport Corp. Ltd (NCRTC) to build a regional rapid transit system.
NCRTC, which will be set up with an initial seed capital of ₹ 100 crore, will take up the Delhi-Sonipat-Panipat (111km), Delhi-Gurgaon-Alwar (180km) and Delhi-Ghaziabad-Meerut (90km) corridors for implementation. It can form subsidiary companies for each corridor, the government said in a media release.