As outlined in the union budget, the government will go ahead with disinvestment of public sector undertakings. Oil India Limited and National Hydro-Electric Power Corporation will be listed in the coming few months.

Finance minister Pranab Mukherjee in his budget speech said the government planned to accumulate Rs1,120 crore through disinvestments this year.

Other companies that may be considered for disinvestment later are: Rail India Technical and Economic Services, Cochin Shipyard Limited, Telecommunications Consultants India Limited, Manganese Core India Limited, Rashtriya Ispat Nigam and Satluj Jal Vidyut Nigam.

Mukherjee said, ''The PSUs are the wealth of the nation, and part of this wealth should rest in the hands of the people. While retaining at least 51 per cent government equity in our enterprises, I propose to encourage people's participation in our disinvestment programme.''

Banks and insurance companies were ruled out from the programme. ''They will be given all support, including capital infusion to grow and remain competitive,'' Mukherjee said.

The economic survey this year has indicated a goal of raising Rs25,000 every year from disinvestment.