Stake sales on track

The Finance minister has set an aggressive target of Rs 69,500 crore to be mobilised through strategic sales in state-owned companies, undeterred by the dismal outcome of the government’s disinvestment efforts during the current fiscal. The government has set a target of Rs 41,000 crore through minority stake sales in public sector units, and an additional Rs 28,500 crore through strategic sales in a number of state-owned companies.

While 2014-15 has been one of the best years for the equity markets, which has surged to new highs, the government has been unable to ride this tide and meet stake sale targets.

In the revised estimates, disinvestment receipts have been pegged at Rs 26,353 crore, as against the target of Rs 43,425 crore set in 2014-15. In addition, Rs 5,000 crore will be raised from PSU Exchange Traded Fund. “We have an elaborate disinvestment roadmap in front of us. As far as strategic sales are concerned, certainly we are not averse to the idea. Wherever we find the possibility existing, we will certainly consider it,” finance minister Arun Jaitley told reporters on Saturday.