Why India keeps selling stakes in PSUs instead of privatising them

•The Indian government has sold minority stakes in public sector undertakings (PSUs) to raise funds, rather than pursuing strategic privatisation.

•Between FY10 and FY21, disinvestment targets were exceeded only twice, with large transactions contributing to these successes.

•Minority stake sales have raised ₹3.30 trillion since FY15, compared to ₹69,412 crore through strategic disinvestment transactions, a gap of nearly five times.