Govt. earns ₹85,000 crore from disinvestment, overshoots target

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DIPAM realised proceeds via 28 transactions; this year’s target was ₹80,000 crore

The government has overshot its disinvestment target for the second consecutive year, according to the Ministry of Finance.

“As against a target of ₹80,000 crore for disinvestment for the current year, the divestment receipts have touched ₹85,000 crore today,” Finance Minister Arun Jaitley tweeted on Friday.

Second year in a row

“The disinvestment proceeds this FY crossed ₹85,000 cr. against Revised Estimate of ₹80,000 cr.,” Disinvestment Secretary Atanu Chakraborty tweeted the same day. “For the second year in a row, DIPAM has exceeded the Revised Estimates. During the current FY, DIPAM has realised the proceeds through 28 transactions.” In 2017-18, the government had earned a little more than ₹1 lakh crore from disinvestments against a target of ₹72,500 crore.

Earlier this month,  reported that the government was confident about meeting its disinvestment target for this year despite having achieved only 70% with just 15 days to go.

The official quoted then had pegged this on the completion of the Power Finance Corporation’s acquisition of Rural Electrification Corporation.

That deal also has been completed, as detailed in a tweet by the Disinvestment Secretary on Wednesday saying, “PFC today sealed a deal to acquire 52.63% stake of GoI in REC, as its bid of ₹14,499.99 crore (@ ₹139.50 per share) was accepted along with transfer of management control.”

The government has also earned large amounts from the sale of ETFs, with the latest edition, so far, having earned it ₹10,000 crore.

However, the official database of the Department of Investment and Public Asset Management (DIPAM) does not reflect the updated figures or sales yet.

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