The government on Sunday said private companies which list non-convertible debentures (NCDs) on stock exchanges will not to be regarded as listed companies.

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"Companies can now directly list their securities in foreign jurisdictions," Finance Minister Nirmala Sitharaman said while announcing the fifth and final trance of Rs 20 lakh crore stimulus package.

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On ease of doing business, she said a new "coherent" public sector enterprises policy will be formulated that will define strategic sectors which will have not more than four PSUs.

List of strategic sectors requiring presence of public sector undertakings (PSUs) in public interest will be notified, Sitharaman said.

In other sectors, PSUs will be privatised.

"To minimize wasteful administrative costs, number of enterprises in strategic sectors will ordinarily be only one to four; others will be privatised under holding companies," she said.

In her last four press conferences, Sitharaman had briefed about the reforms including MSME sector, agriculture, defence and aviation sector.

First Published:May 17, 2020 12:12 PM IST