New Delhi The government on Thursday approved a proposal for divestment of 10.82% government stake in steel major SAIL and decided to impose an effective duty of 22.3% on import of power equipment — a move that would help public sector BHEL and private firm L&T.

740.6 acre of land owned by VSNL is expected to get R10,000 crore to the exchequer. The company has 740.6 acre of surplus land across three states — Delhi, Maharashtra and Tamil Nadu. The new import duty on power equipment for all commercial projects include 5%import duty, 12% CVD and 4% SAD.