Rs.40,000 crore disinvestment target will be met: Patel
March 1st, 2011 - 5:26 pm ICT by IANS
New Delhi, March 1 (IANS) Despite missing the current financial year’s target, the government is confident of raising Rs.40,000 crore ($9 billion) through the sale of stakes in state-run firms, Heavy Industries and Public Sector Enterprises Minister Praful Patel said Tuesday.”The finance minister has announced that Rs.40,000 crore is to be raised through disinvestment, and I think in the current context it is very achievable,” Patel told reporters on the sidelines of the annual meeting here of the Federation of Indian Chambers of Commerce and Industry (FICCI).
Without taking names, Patel said the government had identified the companies and would easily achieve the Rs.40,000 crore target in 2011-12.
While presenting the budget for 2011-12, Finance Minister Pranab Mukherjee set a target of Rs.40,000 crore to be raised through disinvestment.
Mukherjee had set the same target for 2010-11 during his last budget.
However, the government has been able to raise only Rs.22,144 crore through disinvestment so far this year. The government sold its stake during the current financial year in different state-run companies, including Coal India, Power Grid Corporation of India, Satluj Jal Vidyut Nigam, Engineers India Ltd, Shipping Corporation of India and Manganese Ore India Ltd.
- Disinvestment yield target set at Rs.40,000 crore - Feb 28, 2011
- Rs.40,000 crore disinvestment target will be met: Official - Sep 13, 2011
- Government to raise Rs.30,000 crore from disinvestment - Mar 16, 2012
- Pranab hopes to meet Rs.40,000 crore disinvestment target - Nov 18, 2011
- EGoM fails to decide on ONGC, BHEL stake sales - Feb 15, 2012
- PSU stake sale only when markets right: Mukherjee - Aug 19, 2011
- India continues to face inflation, cause for concern: Mukherjee - Feb 28, 2011
- Growth to fall below 8 percent: Pranab (Lead) - Oct 19, 2011
- BHEL FPO on hold, profit rises 14.3 percent in 2011-12 - Apr 03, 2012
- Revised disinvestment target in November: Official - Oct 01, 2011
- Government allows state-owned firms to buy back shares - Mar 01, 2012
- Disinvestment to bring in Rs.40,000 crore by 2010-11 - Oct 18, 2010
- ONGC scrip soars after government nod for stake sale - Feb 29, 2012
- India to raise $1.9 bn debt for building highways - Nov 23, 2011
- Fiscal deficit management need of the hour: Pranab - Jan 14, 2012
Tags: chambers of commerce, chambers of commerce and industry, coal india, ficci, finance minister, heavy industries, india ltd, india power, indian chambers of commerce, manganese ore, power grid corporation of india, praful patel, pranab mukherjee, public sector enterprises, rs 40, shipping corporation of india, sidelines, taking names, target, vidyut