PSU sell-off target beyond reach — FM

NEW DELHI, JAN 27: Finance minister Yashwant Sinha on Thursday admitted that it would not be possible for the government to achieve the disinvestment target of Rs 10,000 crore within the current financial year.

Inaugurating the 27th Conference of Corporate Managers and Tax-Executives organised by FICCI here on Thursday, Sinha said, "We will try our best to go as near the target as possible".

Asked how much he expected to mop up from disinvestment in the current fiscal, Sinha said, "I will not hazard a guess." He added that not much was expected from sale of Indian Airlines and Modern Foods. The government has so far received about Rs 1,500 crore from disinvestment. The minister, however, stressed that government would aim at 8% GDP growth rate in the next financial year.