The Government of India’s FY22 strategic divestment plans has slowed down due to the second wave of COVID-19.

CNBC-TV18 learnt from sources that the due diligence process for Air India and BPCL divestment has been delayed by a few months and a 3 months additional time has been sought. Divestment of SCI and BEML is also likely to be delayed due to the second wave of the pandemic.

However, the government is still hoping to receive financial bids for Air India by September and expecting Air India, BPCL transactions to conclude in FY22.

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(Edited by : Bivekananda Biswas)