Budget 2019: Government Raises Disinvestment Target To Rs 90,000 Crore In FY20
An employee counts Indian one hundred rupee banknotes in New Delhi, India (Photographer: Anindito Mukherjee/Bloomberg)

Budget 2019: Government Raises Disinvestment Target To Rs 90,000 Crore In FY20

Bookmark

The government has set a target of Rs 90,000 crore to be mopped up from central public sector enterprises' share sale in financial year 2019-20, higher than Rs 80,000 crore planned for the current fiscal.

The government, which has already raised around Rs 36,000 crore from disinvestment so far in the current fiscal, expects to raise another Rs 44,000 crore from share sale in state-owned companies in the two months till March 2019.

In the interim Budget 2019-20, Finance Minister Piyush Goyal said the NDA government has pursued the public enterprises' asset management agenda to make these enterprises accountable to people.

"As many as 57 CPSEs are now listed with total market capitalisation of over Rs 13 lakh crore. The government received over Rs 1 lakh crore from disinvestment proceeds during 2017-18. We are confident of crossing the target of Rs 80,000 crore this year," Goyal said.

Also read: Budget 2019: Is Modi’s Election Budget Powered By Ambitious Tax Targets?

Department of Investment and Public Asset Management Secretary Atanu Chakraborty said, historically about 45-55 percent of CPSE share sale happens in the January-March quarter; and share sale plans are in place to meet the Rs 80,000 crore disinvestment target set for current fiscal ending March.

The government had mopped up a record over Rs 1 lakh crore in 2017-18 fiscal. This was higher than Rs 47,743 crore raised in 2016-17, Rs 42,132 crore in 2015-16 and Rs 32,620 crore in 2014-15.

Also read: Budget 2019: Modi Turns To RBI For Fixing Fiscal Math After Populist Budget

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.