Source: business standars
With COVID-19 pandemic impacting big ticket strategic sales and listing of insurance behemoth LIC, the Centre is likely to miss the budgeted disinvestment target by a broad margin in this fiscal year.
In the Budget 2020-21 presentation, FM Nirmala Sitharaman had set a target of raising Rs 2.1 lakh crore by means of privatisation, sale of minority stakes in state-owned companies and share buyback by central public sector enterprises (CPSEs). While Rs 1.20 lakh crore was to come from stake sale in CPSEs, Rs 90,000 crore was to be collected from share sale in financial institutions.The government so far managed to garner Rs 19,499 crore through CPSE disinvestment and share buyback as against the budgeted target of Rs 2.10 lakh crore for the ongoing financial year.