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Technology Stocks : Satyam Infoway Ltd-(Nasdaq:SIFY) -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (943)	2/29/2000 9:00:00 AM
From: Mohan Marette	Read Replies (1) \| Respond to of 1471

India FinMin: Will Proceed ""Strongly"" With Privatization Tuesday, February 29 8:26 PM SGT NEW DELHI (Dow Jones)--Indian Finance Minister Yashwant Sinha said Tuesday that he plans to proceed "strongly" with the privatization of state-owned companies, and said he'd fixed a more "reasonable" target for revenues from asset sales for the 2000/01 financial year beginning April 1. "We will proceed with our privatization...very strongly," he said in an interview with state television immediately after presenting his budget proposals to Parliament. The government had set a target of 100 billion rupees ($1=INR43.61) in receipts expected from the sale of state-owned assets in 1999/2000, but, according to the budget document, receipts could total just 26 billion rupees. Sinha didn't specify in his budget speech how much he hoped to get from state asset sales in the financial year 2000/01, but said in the interview that he had set a more "reasonable" target because he hopes to exceed the target substantially. Budget documents, however, showed that the expected revenue from state asset sales remained at INR100 billion.