India News | Govt Lowers FY'23 Disinvestment Target to Rs 50K Cr; Pegs Target for FY'24 at Rs 51K Cr
Get latest articles and stories on India at LatestLY. The government has scaled down the disinvestment target for the current fiscal to Rs 50,000 crore, from Rs 65,000 crore budgeted last year, a finance ministry official said on Wednesday.
New Delhi, Feb 1 (PTI) The government has scaled down the disinvestment target for the current fiscal to Rs 50,000 crore, from Rs 65,000 crore budgeted last year, a finance ministry official said on Wednesday.
For the next fiscal 2023-24, the Budget has pegged disinvestment revenue at Rs 51,000 crore.
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Further, about Rs 10,000 crore is expected to come from monetisation of government assets in the current year and well as in the next fiscal.
The proceeds from disinvestment form part of the miscellaneous receipts in the Capital Receipts Budget.
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As per the 2023-24 Budget document, the revised estimate for miscellaneous capital receipts for the current fiscal has been pegged at Rs 60,000 crore, lower than the Rs 65,000 crore projected in the Budget estimates for 2022-23.
This Rs 60,000 crore includes Rs 50,000 crore from disinvestment proceeds and Rs 10,000 crore on account of asset monetisation, the official said.
For the next fiscal beginning April 1, the miscellaneous capital receipts have been pegged at Rs 61,000 crore, including Rs 51,000 crore from disinvestment.
As per the DIPAM website, the government has so far mopped up over Rs 31,100 crore by way of minority stake sale in CPSEs, as against the full-year Budget target of Rs 65,000 crore.
For the next fiscal, companies like Shipping Corporation of India, NMDC Steel Ltd, BEML, HLL Lifecare, Container Corporation of India and Vizag Steel, besides IDBI Bank, are in the government's list for privatisation.
This fiscal (2022-23) is the fourth year in a row that the government has missed the budgeted disinvestment target.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)