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Government to raise Rs.40,000 crore through disinvestment news
28 February 2011

Budget 2011-12 has targetted Rs.40,000 crore to be raised through disinvestment of central public sector undertakings (PSUs).

In 2010-11 too, the government had set a target of Rs.40,000 crore, but could achieve only Rs.22,144 crore. include six companies - Satluj Jal Vidyut Nigam, Engineers India, Coal India, Power Grid, Manganese Ore India Ltd and Shipping Corporation.

''Maintaining the momentum on disinvestment, in the current fiscal year, six public issues of central PSUs have attracted around 50 lakh retail investors broad basing their ownership,'' the minister said.

At the beginning of the current financial year, the government had plans to divest its stake in 10 PSUs. However, ahigher-than-anticipated realisation of non-tax revenues has led to rescheduling of some of disinvestment issues planned for the current year.

As part of its five-year selloff roadmap, the Manmohan government has chalked out an ambitious disinvestment plan, under which it aims to bring down its holding to 75 per cent - or a minimum public holding of 25 per cent in stages in all profit-making central PSUs.

That apart, the government has also identified over 60 units for possible divestment during these years.

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Government to raise Rs.40,000 crore through disinvestment