Government targets Rs30,000 crore from PSU stake sales in FY13: Pranab
13 Mar 2012
The government expects to raise Rs30,000 crore by selling stakes in state-run firms in the fiscal year that begins on 1 April, finance minister Pranab Mukherjee said today.
The government has also set a target of Rs25,000 crore from asset sales for the 2013-14 fiscal, Mukherjee said in a written reply in Parliament.
Mukherjee said the projections are based on the medium-term fiscal policy laid out last year.
It is yet not known whether the government will use the auction route to sell PSU stakes.
The government had to lean back on state-run Life Insurance Corp to pick up as much as 4.4 per cent of the government's 5 per cent stake it divested in Oil & Natural Gas Corp.
LIC has acquired 377.10 million shares – over 88 per cent of those on offer – giving it a 4.41 per cent stake in ONGC.
The government has so far raised 12,500 crore of its targeted 40,000 crore in PSU divestment
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