BUDGET
Divestment, asset monetisation receipts seen 500 bln rupees
This story was originally published at 15:50 IST on 23 July 2024
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--BUDGET: FY25 miscellaneous capital receipts 500 bln rupees
MUMBAI – The government today pegged receipts from divestment of its stake in public sector undertakings and asset monetisation at 500 bln rupees for 2024-25 (Apr-Mar), the same as in the Interim Budget presented on Feb 1.
The government had discontinued the practice of giving a specific target for divestment receipts in the Interim Budget. In February, Department of Investment and Public Asset Management Secretary Tuhin Kanta Pandey said there was no divestment target in the Interim Budget as it was difficult to set targets when there was so much volatility.
Also, the government probably wanted to avoid getting flak for missing the divestment target. In the last 10 years, the government has met its disinvestment target only twice. Last year, the government raised 165 bln rupees from divestment, against the target of 510 bln rupees.
The government has not divested any stake in public sector companies so far in the current financial year. End
Reported by Krity Ambey and Kshipra Petkar
Edited by Avishek Dutta
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