The government is set to seek formal Cabinet approval for shutting down seven state-owned companies, with their respective line ministries apparently agreed. This would be the first time that approvals for closing so many public sector undertakings (PSUs) is being sought in one go.

These PSUs are part of the larger list of 74-loss making state-owned units. Among them are likely to be Bird Jute and Exports, Hindustan Papers, Hindustan Photo Films, Tyre Corporation and Richardson & Cruddas. The NITI Aayog had earlier given a list of eight PSUs for closure to the government and the ministry of ...