Disinvestment target Rs1.75-La-Cr for this fiscal will be achieved: Chief Economic Adviser

Chief Economic Adviser Krishnamurthy Subramanian has expressed optimism that the Rs1.75-lakh crore disinvestment target of this fiscal will be achieved, with a good part coming from the proposed IPO of insurance behemoth LIC and privatisation of Bharat Petroleum Corporation (BPCL).

On the COVID-19 pandemic, Subramanian said the impact of the second wave is lesser than that of the first one. The CEA said robust GST collections, over Rs one lakh crore per month for eight months in a row shows that consumption is picking up indicating a positive signal for growth. "There has to be a lot of work which is going on and this year there is actually a lot of emphasis on achieving these targets.

Remember that Rs 1.75 lakh crore, a good part of it will be from LIC's IPO (Initial Public Offering). Second is Bharat Petroleum (BPCL) privatisation. And these two together itself can account for a large part of (disinvestment target)," he said. The Centre budgeted Rs 1.75 lakh crore from stake sale in public sector companies and financial institutions, including 2 PSU banks and one insurance company, in the current fiscal year.

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