Jaitley sets divestment target of Rs 72500 cr for 2017 18
NEW DELHI.The Indian government will raise Rs 72,500 crore through divesting stake in central public sector enterprises (CPSEs) during the next fiscal, Finance Minister Arun Jaitley announced on Wednesday in the Union Budget for 2017-18 presented in Parliament.
As per the budget, the government's divestment programme for the forthcoming fiscal includes the listing of three railway PSUs - IRCTC, IRFC and IRCON - as well as of five general insurance companies.
"This year we hope to reach Rs 45,000 crore through disinvestment of government stake in PSEs," Jaitley told reporters here following the budget presentation.
The disinvestment target for the current financial year has been estimated at Rs 56,500 crore, comprising Rs 36,000 crore from disinvestment of CPSEs and Rs 20,500 crore from strategic disinvestment which involves reducing government shareholding in the company to below 50 per cent, transferring, thereby, management control. Webindia123