are some companies that have more surplus cash than their annual turnover. So if they do not have any capital expenditure plans, they can invest this amount in some state-owned blue-chip company,” another government official said.
So far, the government has managed to raise Rs 6,900 from disinvestment this fiscal, against the target of Rs 30,000 crore. The department of disinvestment has lined up a slew of offers — the Oil India stake sale is expected to fetch Rs 2,500 crore and NTPC’s some Rs 12,000 crore. Other offers on the cards are those of MMTC, Nalco, Rashtriya Chemicals and Fertilizers and SAIL.