Stronger public sector: An office worker walks past a digital screen showing Finance Minister Arun Jaitley delivering the budget speech at Parliament at the Bombay Stock Exchange in Mumbai. Jaitley says India sees opportunities to strengthen its central public-sector enterprises through consolidation, mergers and acquisitions. — AFP See also story on page 5
MUMBAI: India is planning to create a state-owned oil giant through mergers to match the might of international companies and billionaire Mukesh Ambani’s Reliance Industries Ltd.
“We see opportunities to strengthen our central public-sector enterprises through consolidation, mergers and acquisitions,” Finance Minister Arun Jaitley said in Parliament while presenting the federal budget for the year beginning April 1.
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