On a year-on-year basis, however, capex by these entities fell 1.1%, in what reflected the drying up of cash reserves with them owing to robust investments made over the last few years on the government’s prodding.
The government has been following the policy of disinvestment in non-financial public sector undertakings maintaining that the Centre's stake not to go below 51%. The Budget for FY20 proposes to change that policy.
For long-term investors too, the ETFs run by the Centre haven't been disappointing. The CPSE ETF has given annualised return of about 7% since its inception five years ago and 10.6% in the past three years.
An inter-ministerial panel has recently decided that publicity measures would be undertaken to educate people about the central government’s share in subsidies disbursed through PDS and other agencies.