The government is soon to launch the disinvestment programme for 2015-16, the country’s biggest so far, as early as the second week of April, provided, there remains favourable market conditions. The plan is likely to happen between a power sector and heavy industry firm for the first issue, asserts a senior government officia. The Modi government’s first full Budget in February announced a Rs 69,500-crore plan to sell stakes in government companies. Of this, the government has budgeted Rs 41,000 crore through stake sales in public sector units and Rs 28,500-crore through strategic disinvestment.
The disinvestment department intends to launch at least one issue every month to meet this target. Given, the RBI’s policy review is on April 7, the department will have to see how the markets respond to that as well. In the current fiscal, the government has raised around Rs 24,200 crore through stake sales in Coal India Ltd. and Steel Authority of India Ltd.
According to the official, the disinvestment department is in a position to start early, having secured the Cabinet approval for stake sales in 10 companies, including Power Finance Corporation, Bharat Heavy Electricals Ltd., Rural Electrification Corporation and others. .
Disinvestment Secretary Aradhana Johri had said that she faced a big challenge in FY16. “We will have 12 issues ready for disinvestment in FY15-16 but we will need to see market conditions. There are some constraints,” she had said.
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