Rs.40,000 crore disinvestment target will be met: Official
September 13th, 2011 - 9:49 pm ICT by IANS
New Delhi, Sep 13 (IANS) The government will be able to meet the targeted Rs.40,000 crore through divesting its stake in public sector undertakings during the current financial year, a finance ministry official said Tuesday.
“We hope we will be able to meet the disinvestment target,” Economic Affairs Secretary R. Gopalan told reporters on the sidelines of a conference organised by the Confederation of Indian Industry (CII) here.
Finance Minister Pranab Mukherjee in the union budget has set a target to raise Rs.40,000 crore from disinvestment during 2011-12.
Considering the current volatility in the stock markets, many analysts feel the target would not be achieved.
So far the government has only managed to raise only Rs.1,162 crore by selling 5 percent stake in the Power Finance Corporation.
However, the proposal of disinvestment in five other public sector undertakings - Oil and Natural Gas Corporation, Bharat Heavy Electricals Limited, Steel Authority of India Limited, Hindustan Copper and National Building and Construction Corporation - has already been cleared by the federal cabinet.
- Pranab hopes to meet Rs.40,000 crore disinvestment target - Nov 18, 2011
- PSU stake sale only when markets right: Mukherjee - Aug 19, 2011
- Disinvestment yield target set at Rs.40,000 crore - Feb 28, 2011
- Government to raise Rs.30,000 crore from disinvestment - Mar 16, 2012
- Rs.40,000 crore disinvestment target will be met: Patel - Mar 01, 2011
- Revised disinvestment target in November: Official - Oct 01, 2011
- EGoM fails to decide on ONGC, BHEL stake sales - Feb 15, 2012
- 10 percent NBCC divestment okayed - Aug 11, 2011
- Government allows state-owned firms to buy back shares - Mar 01, 2012
- Growth to fall below 8 percent: Pranab (Lead) - Oct 19, 2011
- HAL disinvestment under consideration: Government - May 07, 2012
- 5 percent equity divestment in BHEL cleared - Aug 30, 2011
- Disinvestment to bring in Rs.40,000 crore by 2010-11 - Oct 18, 2010
- Don't disinvest in HAL, says CPI-M - Sep 19, 2011
- Government hikes divestment targets to rake in Rs.25,000 cr - Feb 26, 2010
Tags: confederation of indian industry, construction corporation, economic affairs, federal cabinet, finance ministry official, gopalan, hindustan copper, natural gas corporation, New Delhi, percent stake, power finance corporation, pranab mukherjee, public sector undertakings, rs 40, sidelines, steel authority of india limited, stock markets, target, union budget, volatility