Thursday, February 22, 2024

FY22 disinvestment target at Rs 1.75L cr, 2 PSBs to be privatised

Date:

Share post:

spot_img

 


NEW DELHI: The government has pegged its target for disinvestment for FY 2021-22 at Rs 1.75 lakh crore.

A major announcement made by Finance Minister Nirmala Sitharaman was that the government will privatise two public sector banks other than IDBI Bank. One general insurance company will also be privatised in the coming fiscal, she said.

Presenting the Union Budget for FY22, Sitharaman also exuded confidence that all the announced privatisation decisions will be completed in the next fiscal, despite the massive delay so far and the impact of the pandemic.

Thereby, she assured that the much delayed disinvestment processes of Air India and BPCL among others would be completed in the upcoming fiscal.

She also said that legislative amendments required for LIC IPO would be brought in 2021-22.

The disinvestment target for the current fiscal is Rs 2.10 lakh crore while the revenue collected through disinvestment is only Rs 19,499 crore.

Centre’s disinvestment process has been severely impacted both by pandemic along with lack of interest among market players even before the pandemic.

Sitharaman also said that NITI Aayog has been asked to work on next list of central public sector companies for strategic disinvestment.

To monetise lands owned by CPSEs, a special purpose vehicle (SPV) would be developed and an Asset Monetisation Pipeline will also be launched.

spot_img

Related articles

Always ready for talks with farmers: Anurag Thakur

New Delhi, Feb 22:  Union Minister Anurag Thakur has said the Centre was always ready for talks with...

US launches research network to evaluate emerging cancer screening technologies

Shillong, February 22: The US National Institutes of Health (NIH) has launched a clinical trials network to evaluate...

Meta testing cross-posting feature from FB to Threads

Shillong, February 22: Meta has started testing a cross-posting feature that would allow users to post from Facebook...

Aaranyak experts train Assam forest staff on GPS for elephant estimation

  Guwahati, Feb 22: Experts from one of India’s leading research-oriented biodiversity conservation organisation Aaranyak (www.aaranyak.org)  have imparted GPS...