Govt exceeds year's divestment target as proceeds hit Rs85,000 crore
22 March 2019
The government has exceeded its divestment target for the current financial year with an 85,000 crore mop-up so far against a target of Rs80,000 crore fixed for the fiscal.
The current year divestment proceeds include Rs9,500 crore from the fifth tranche of CPSE ETF and Rs14,500 crore from the REC-PFC deal.
"As against a target of Rs 80,000 crore for divestment for the current year, the divestment receipts have touched Rs 85,000 crore today," finance minister Arun Jaitley tweeted.
The government has grown ambitious and has set a higher divestment target of Rs90,000 crore for the 2019-20 financial year.
In FY18, the government earned Rs1,00,056.91 crore from divestment against a target of Rs72,500 crore.
In FY18, the budgeted target for divestment was Rs72,500 crore. By the end of the fiscal year, the divestment receipts touched Rs1 lakh crore, mainly on account of about Rs37,000 crore, which came from a deal in which state-owned ONGC bought the centre’s 51 per cent equity stake in HPCL.
The target for FY17 was set at Rs56,500 crore. However, the government was able to only gather Rs47,743 crore.
Rs9,500 crore were collected from the fifth tranche of CPSE ETF and Rs14,500 crore from the REC-PFC deal.