|Consider the following statements.|
|1. The Department of Disinvestment is in the Ministry of Heavy Industries and Public Enterprises.|
|2. While pursuing disinvestment, government has to retain majority shareholding, i.e. atleast 26% and management control of the Public Sector Undertakings.|
|3. Citizens have every right to own part of the shares of Public Sector Undertakings.|
|Which of the statement(s) given above is/are correct?|
A) 1 and 3
B) 2 and 3
C) Only 3
D) None of these
Correct Answer: C
Solution :[c] The Department of Disinvestment was set up as a separate department on 10th December, 1999 and was later renamed as Ministry of Disinvestment from 6th September, 2001. From 27th May, 2004, the Department of Disinvestment is one of the departments under the Ministry of Finance. In all cases of disinvestment, the government would retain at least 51% equity and the management control. Citizens have every right to own part of the shares of Public Sector Undertakings.
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