Govt exceeds disinvestment target, rakes in Rs 85,000 crore

New Delhi, March 22

Finance Minister Arun Jaitley on Friday said the government has achieved disinvestment of Rs 85,000 crore in the current fiscal, which is Rs 5,000 crore more than the set target for 2018-19, belying widespread expectations of a shortfall.

“As against a target of Rs 80,000 crore for disinvestment for the current year, the divestment receipts have touched Rs 85,000 crore today (Friday),” Jaitley tweeted.

As of February 28, 2019, the government had raised only Rs 56,473 crore through disinvestment, or 70 per cent of the full-year target of Rs 80,000. With uncertainties over some sell-offs, achieving the target seemed difficult at the beginning of this month.

The Power Finance Corporation-Rural Electrification Corporation merger deal, by which the PFC acquired the government’s stake in the REC, has generated Rs 14,500 crore as disinvestment proceeds for the government.

The fifth tranche of the CPSE ETF, which gives an opportunity to invest in 11 government “ratnas”, helped the government raise Rs 9,500 crore. — PTI

Grabs good deals this financial year

• The government has mopped up Rs 9,500 crore from the fifth tranche of CPSE ETF and Rs 14,500 crore from the REC-PFC deal
• The disinvestment target for the next fiscal year has been fixed at Rs 90,000 crore