Disinvestment targets will be crossed this year Arun Jaitley
Disinvestment targets will be crossed this year Arun Jaitley
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Finance Minister Arun Jaitley said on Wednesday that the government will easily achieve the disinvestment target of this financial year and will be mobilized for more money. He also said that Air India's disinvestment plan is on the right track and is fast moving forward.

Addressing the 90th Annual General Meeting of the Industry Board FICCI, the Finance Minister said, "This will be the first year in history when we will be remarkably ahead of the disinvestment target. Privatization and disinvestment in India is the art of achieving the possible. This is what happens all over the world.

He said that the government has succeeded in selling its partial share of the public sector insurance companies and some companies engaged in consumer commodity business in difficult market conditions. 

The government has recently sold its stake in General Insurance Company GIC-Ri and New India Assurance Company. These companies have been successful in the initial public offering market. The government has sold its stake in several PSUs including HUDCO, EIL, NTPC, Nalco and Oil India this year.

On the disinvestment of Air India, Jaitley said that this is on the right track and at the moment we are fast moving forward. Disinvestment advisors have been appointed for this. Jaitley is the Chairman of the Group formed on the basis of the plan for the disinvestment of Air India. 

He said, "He is studying the market and is taking stock of buyers' world. We will soon come forward to the next step." The government has set a disinvestment target of Rs 72,500 crore for the current financial year 2017-18. Out of this, till December 2017, 52,389.86 crore rupees have been raised. 

 

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