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The government has decided to dilute its stakes in two biggest oil PSUs, ONGC and Indian Oil Corporation (IOC), as part of its plan to raise Rs 40,000 crore in the current financial year. Centre plans to bridge its fiscal deficit through the disinvestment, a key official said. Besides, IOC will simultaneously raise fresh equity. The government currently holds 74% stake in ONGC and 79% in IOC. The government plans to divest 10% of its stake in IOC and 5% in ONGC, petroleum secretary S Sundareshan told reporters here on Monday. IOC will simultaneously offer fresh shares equivalent to 10% ...