Faced with the prospect of a big shortfall in meeting its divestment targets, the government on Tuesday decided to sell 10 per cent stake in India's largest profit making firm Oil and Natural Gas Corp and gas transmission monopoly Gail (India) Ltd.

The Divestment Development: Complete Coverage

"The Cabinet Committee on Divestment agreed to sell 10 per cent equity in ONGC and Gail through a public offer," Divestment Minister Arun Shourie told reporters after the CCD meeting.