Budget 2014: Disinvestment target revised to Rs 58,425 cr

Target include Rs 43,425 crore from selling stake in PSUs and another Rs 15,000 crore from sale of residual stake in government companies

GN Bureau | July 10, 2014



Finance Minister Arun Jaitley on Thursday raised the disinvestment target for the current fiscal to Rs 58,425 crore, as per news report. The target include Rs 43,425 crore from selling stake in PSUs and another Rs 15,000 crore from sale of residual stake in the erstwhile government companies.

This is higher than the Rs 51,925 crore PSU stake sale target estimated in the interim budget presented in February by the UPA government.

While a 5 per cent stake sale in Steel Authority of India (SAIL) is on the cards, the disinvestment department is also looking at 10 per cent stake sale in Coal India. Also a Cabinet note has been floated for a 5 per cent stake sale in Oil and Natural Gas Corporation Ltd (ONGC) which could fetch about Rs 17,000 crore to the exchequer. Besides, another 10.96 per cent stake is likely to be on offer for National Hydroelectric Power Corporation (NHPC) and 5 per cent each in Power Finance Corporation Ltd (PFC) and Rural Electrification Corporation Ltd (REC). Besides, the department is also looking at residual stake sale in Hindustan Zinc and Balco.

With stock markets on an upturn and Securities and Exchange Board of India (Sebi) pushing for minimum 25 per cent public holding in PSUs, the disinvestment department has revised the target upwards.
 

Comments

 

Other News

Matheran on the losing track

“It’s a national shame,” rues Ali Akbar Peerbhoy, grandson of the founder of the Matheran hill railway, which plies the Matheran toy train. For today, the railway is struggling for survival. The red soil of the hill station, the horse rides, the silence of the forested hills are all under

ONGC acquires 51.11% stake in HPCL

In its bid to create an oil major to match the performance of global and domestic oil and gas players, Oil and Natural Gas Corporation Ltd (ONGC) board has approved the acquisition of entire 51.11 percent shareholding of the government in Hindustan Petroleum Corporation Ltd (HPCL) with a total acqu

Foundation of mine counters measure vessels command laid at Goa Shipyard

Goa chief minister Manohar Parrikar recently laid the foundation stone of the Rs 120 crore- MCMV (mine counters measure vessels) Command, Control & Design Office at Goa Shipyard Ltd, Vasco in Goa. The defence ministry has entrusted the GSL for series construction of sophisticated and hig

Sri Lankan defence secy reviews patrol vessel construction at GSL

A high level Sri Lankan defence delegation headed by secretary of defence, Kapila Waidyaratane PC recently visited Goa Shipyard Ltd. The delegation held discussions with GSL CMD, Rear Admiral (retired) Shekhar Mital. The defence delegation was shown the ongoing shipbuilding activities includ

Are our authorities callous when it comes to ensuring safety of people?

Are our authorities callous when it comes to ensuring safety of people?

Unto the first few

Our constitution promises equality of status and opportunity to all citizens but statistical data suggests that inequalities in wealth and income have increased since independence and are now on an uncontrolled upward spiral. Recently, Thomas Piketty and Lucas Chancel in their aptly titled s

Current Issue

Current Issue

Video

CM Nitish’s convoy attacked in Buxar

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter