New Delhi [India], September 27 (ANI): Chief Economic Adviser Krishnamurthy Subramanian on Sunday said history will look at this year as important for privatisation.

Speaking at the Indian School of Business (ISB) Leadership Summit 2021, Subramanian said, "I am quite confident that history will look at this year as an important year for privatisation. This year's budget has Rs 1.75 lakh crores as the proceeds from privatisation. Air India is proceeding well. You must have read that there are two bids that have come. Bharat Petroleum and LIC's listing also. We are confident it should happen by the fourth quarter of this year."

Also Read | Cyclone Gulab: 2 Fishermen from Andhra Pradesh’s Srikakulam Dead, One Missing After Boat Capsizes in Bay of Bengal.

Notably, national carrier Air India's divestment bids were submitted by bidders including Tata Group along with SpiceJet Chairman Ajay Singh in his personal capacity earlier this month.

Minister of Civil Aviation (MoCA) Jyotiraditya Scindia had told ANI that the government is very optimistic about the divestment of Air India.

Also Read | Oppo Reno6 Pro 5G Diwali Edition, Oppo F19s Smartphones To Be Launched in India Tomorrow.

Air India is laden with a huge debt of around Rs 43,000 crores, of which Rs 22,000 crores will also be transferred to the Air India Asset Holding Limited

Finance Minister Nirmala Sitharaman last month launched the National Monetisation Pipeline (NMP) that includes the Centre's four-year plan to monetise its brownfield infrastructure assets. (ANI)

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)