Tasked by the Prime Minister's Office to look into viability of sick state-run companies, the Niti Aayog has identified eight PSUs for closure after finding them unfit for revival.
A source privy to the development said that these eight units are out of 74 loss-making public sector undertakings identified by the Niti Aayog for closure or sell off.
He said, once the Prime Minister's Office gives the in-principle approval to the proposal, the Ministry responsible for administration of these PSUs will prepare detailed plan for closure of these firms.
The source further said these closure plans will be placed before Union Cabinet for approval to start the process of liquidating the firms.
The Aayog had submitted two separate lists of sick and loss-making PSUs - one comprising those that can be closed down and the other of those where government can divest its stake. It is also in the process of preparing a list of PSUs for strategic sale or privatisation.
Finance Minister Arun Jaitley in his Budget speech this year had said the NITI Aayog will identify PSUs for strategic sale and disinvestment.
The government aims to collect 56,500 crore rupees through disinvestment in PSUs this fiscal, as per the Union budget for 2016-17.
Of the total Budgeted proceeds, 36,000 crore rupess is estimated to come from minority stake sale in PSUs and the remaining 20,500 crore rupees from strategic sale in both profit and loss-making companies.
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