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Govt plans to double disinvestment proceeds for next fiscal

New Delhi: The government yesterday proposed raising Rs 69,500 crore from disinvestment and strategic sale in state-owned companies.Of the total budgeted proceeds, Rs 41,000 crore is estimated to come from minority stake sale in PSUs,

PTI [ Updated: March 01, 2015 10:58 IST ]
govt plans to double disinvestment proceeds for next fiscal
govt plans to double disinvestment proceeds for next fiscal

New Delhi: The government yesterday proposed raising Rs 69,500 crore from disinvestment and strategic sale in state-owned companies.

Of the total budgeted proceeds, Rs 41,000 crore is estimated to come from minority stake sale in PSUs, and the remaining Rs 28,500 crore is projected to come from strategic sale in both profit and loss-making companies.

As regards disinvestment in the current year, the government is expected to mop up only Rs 31,350 crore as against the budget target of Rs 63,425 crore.

The revised estimates have pegged the disinvestment receipts from minority stake sale in PSUs at Rs 26,353 crore, as against the target of Rs 43,425 crore.

In addition, Rs 5,000 crore will be raised from PSU Exchange Traded Fund (ETF).

"We have an elaborate disinvestment roadmap in front of us. As far as strategic sales are concerned, certainly we are not averse to the idea. Wherever we find the possibility existing, we will certainly consider it," Finance Minister Arun Jaitley told reporters here.

The government has raised about Rs 24,500 crore through disinvestment in SAIL and Coal India in the current fiscal. It expects to raise Rs 6,850 crore in the remaining one month of the fiscal ending March.

Five per cent stake sale in REC and PFC are on cards in current fiscal.

The disinvestment department has lined up a host of companies including 5 per cent in ONGC, Dredging Corp, and Bharat Heavy Electricals (BHEL).

Besides, 10 per cent each in Indian Oil Corporation, National Aluminium Company (NALCO) and NMDC are also being planned.

It is also planning to list RINL and Hindustan Aeronautics through a 10 per cent stake dilution.

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