At the bank's current market price, the stake on offer is worth about Rs 5,700 crore
The trade deficit stood at $10.14 billion compared with $9.22 billion in November, a trade ministry official said on Friday.
In November, wholesale prices, India's main inflation measure, rose 7.52 percent, their fastest pace in 14 months.
Food prices for consumers last month rose 12.16 per cent from a year earlier, slower than November's 14.72 per cent rise.
The trade deficit stood at $10.14 billion compared with $9.22 billion in November, a trade ministry official said on Friday.
India has asked bulk buyers to pay market rates for diesel since last January and has also been raising the price of subsidised diesel in small amounts every month in an effort to cut its ballooning fuel subsidies.
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In the fiscal year ended March, infrastructure output grew 3.2 per cent compared with 5 per cent in 2011/12.
Anand Sharma, who will lead the delegation to Bali, said a group of 33 countries were supporting India's stand on the food subsidy programme which he said was 'sacrosanct, non- negotiable.'
The finance ministry is resisting pressure from other departments to cap foreign ownership of domestic drugmakers, fearing such a move would discourage potential investors, a senior ministry source said.
Food prices rose 18.19 per cent year-on-year in October, slower than an annual rise of 18.4 per cent in September.
Analysts polled by Reuters had expected an annual output growth of 3.5 per cent for the month.
Iraq is willing to double the credit period on crude sales to 60 days if Indian refiners buy more in 2014, the head of refineries at Hindustan Petroleum said. Iran has also sweetened the deal to expand its dwindling market share by offering free shipment and a nominal discount to Indian refiners, sources said last week.
Capital goods production, a barometer for investments in the economy, contracted by 2 per cent in August.
It hopes to attract billions of dollars in investment by this move, and may ease some restrictions on foreign inflows.
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Imports of gold virtually stopped since July 22 after confusion on the new import rules.
Mayaram also said as of now, a shutdown of the US government is not likely to have a major impact on the Indian economy.
Oil accounts for about a third of India's total imports and higher dollar prices combined with a rupee near all-time lows have increased its cost.
Arvind Mayaram, economic affairs secretary at the finance ministry, also said that a fall in bulk diesel demand this fiscal year will save the government about $1 billion.
Foreign direct investment inflows into India rose an annual 12.9 percent in July to $1.66 billion.
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Food prices for consumers also eased to an annual 11.06 percent in August from 11.24 per cent in July.
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