The government raised its disinvestment target for 2019-20 by 12.5 per cent to Rs. 90,000 crore even as less than half of the budgeted target of Rs. 80,000 in the outgoing fiscal has been realised in the first 10 months.
So far, the government has raised Rs. 35,532 crore from the sale of its shares in the Central Public Sector Enterprises (CPSEs) in 2018-19. The government has expressed confidence of meeting the target, saying most sales happen in last quarter.
“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,” Finance Minister Piyush Goyal said while presenting the Interim Budget on Friday.
State-owned firms RITES, IRCON International and Garden Reach Shipbuilders hit the IPO market in the current financial year. Besides, the government mopped up Rs. 17,000 crore through the CPSE Exchange Traded Fund (ETF) follow-on offer.