Govt garners Rs 19,499-Cr From CPSE Disinvestment
Govt garners Rs 19,499-Cr From CPSE Disinvestment
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MUMBAI: The government has garnered Rs 19,499 crore through CPSE disinvestment and share buyback Thus far in 2020-21, as against the Rs 2.10 lakh cr budget target set for the entire fiscal year ending March 31. With COVID-19 related delays impacting big ticket strategic sales and listing of insurance behemoth LIC, the government is likely to miss the budgeted disinvestment target by a wide margin in this financial year.

 Finance Minister Nirmala Sitharaman had in her budget for 2020-21 set a target of raising Rs 2.1 lakh crore from privatisation, sale of minority stakes in state-owned companies and share buyback by CPSEs. While Rs 1.20 lakh crore was to come from stake sale in CPSEs, Rs 90,000 crore was to be mopped up from share sale in financial institutions.

While Rs 1.20 lakh crore was to come back from share sale in CPSEs, Rs 90,000 crore was to be mopped up from share sale in monetary establishments.

As many as four CPSEs Hindustan Aeronautics Ltd (HAL), Bharat Dynamics, IRCTC and SAIL have come out with offer-for-sale (OFS) this fiscal year. This fetched Rs 12,907 crore to the exchequer. Besides, the Initial public Offering (IPO) by IRFC and Mazagon Dock Shipbuilders collectively fetched Rs 1,984 crore.

The GOVT can also be trying to promote its whole 26.12 percent stake in Tata Communications Ltd, erstwhile VSNL, by way of Offer for sale and strategic sale route within the present fiscal.

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