UPSC Prelims 2003 Q34: Indian Economy – Fiscal Policy & Budget
The government holding in BPCL is
- (a) More than 70%
- (b) Between 60% and 70%
- (c) Between 50% and 60%
- (d) Less than 50%
Answer: (b) Between 60% and 70%
Explanation
Government holding in BPCL
| Range | Fit |
|---|---|
| More than 70% | No |
| Between 60% and 70% | Yes — about 66.29% |
| Between 50% and 60% | No |
| Less than 50% | No |
The Government of India held about 66.29% of BPCL (Bharat Petroleum Corporation Ltd), which is between 60% and 70%.
Answer: (b) Between 60% and 70%.
Why each option is right or wrong
- (a) Incorrect. The holding was below 70 percent.
- (b) CORRECT. The Government held about 66.29%.
- (c) Incorrect. The holding was above 60 percent.
- (d) Incorrect. The Government held a majority.
Key point
Oil PSUs: BPCL (66.29%), HPCL (51.1%), IOC (82%), ONGC (74%).
Remember
The Government held about 66 percent of BPCL.
Common mistakes
- Confusing BPCL's stake with HPCL's 51%.
- Remembering the pre-1990s 100% holding.
- Forgetting that the Supreme Court halted privatisation in 2003.
Exam tip
BPCL and HPCL privatisation was stopped by the Supreme Court in September 2003.
Sources
- Bharat Petroleum Corporation Limited — Annual Report 2002–03 (shareholding pattern)
- Department of Disinvestment, Government of India — Annual Report 2002–03