Disinvestment yield target set at Rs.40,000 crore

February 28th, 2011 - 3:41 pm ICT by IANS  

Pranab Mukherjee New Delhi, Feb 28 (IANS) The government aims at raising Rs.40,000 crore from selling its stakes in public sector undertakings during fiscal 2011-12, Finance Minister Pranab Mukherjee said Monday. “I intend to maintain the momentum on disinvestment in 2011-12 by raising Rs.40,000 crore,” Mukherjee said while presenting the budget for 2011-12 in the Lok Sabha.

However, the finance minister said disinvestment would fall substantially short of target in the current financial year.

“As against a target of Rs.40,000 crore, the government will raise about Rs.22,144 crore from disinvestment in 2010-11. A higher than anticipated realisation in non-tax revenues has led us to reschedule some of the divestment issues planned for the current year,” he said.

Mukherjee said the government was committed to retaining at least 51 percent ownership and management control of the central public sector undertakings.

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