New Delhi: Even though the government for the first time in seven years completed the disinvestment target in FY18, it very moderately raised the target by over 10 per cent in the FY19 budget.
The Centre has exceeded the disinvestment target of 2017-2018 and is expected to receive about Rs 1 lakh crore. “2017-18 budget estimates for disinvestment were pegged at the highest ever level of Rs 72,500 crore. We have already exceeded the budget estimates. I am assuming receipts of Rs 1,00,000 crore in 2017-18,” Jaitley said while presenting Union Budget, 2018.
The Centre had set a disinvestment target of Rs 72,500 crore in the current financial year by sale of equity in state-owned companies, including strategic sale. The target included Rs 46,500 crore as disinvestment of central public sector enterprises, Rs 15,000 crore from strategic disinvestment and Rs 11,000 crore from listing of insurance companies.
This is the first time in seven years that the government has completed the disinvestment target on the back of multiple deals like an agreement with ONGC for the strategic sale of its 51.11 percent equity share-holding in HPCL at a consideration of Rs 36,915 crore.
The government has approved listing of 14 CPSEs, including two insurance companies, on the domestic bourses. As the government’s ETF Bharat-22 raised Rs 14,500 crore, the finance ministry will continue to come up with more such offers including debt ETF in FY19, he said.
