Govt confident of raising R25k cr from divestment

Written by Press Trust of India | New Delhi | Updated: Sep 29 2012, 09:56am hrs
The government on Friday exuded confidence that it will be able to raise R25,000-R30,000 crore from disinvestment and will remain very close to the fiscal deficit target of 5.1% of the GDP in 2012-13.

There is now a decision for disinvestment in several PSUs. Some more are under consideration. And, therefore, we believe that we could net about R25,000-30,000 crore from that itself.

Then there is spectrum auction, which is on stream. We have a target of R40,000 crore, economic affairs secretary Arvind Mayaram told reporters here.

He said the government would take steps to curb wasteful expenditures and plug leakages in implementation of schemes.

Wasteful expenditure, if any, will be strongly curbed and, therefore, I am confident that we will be able to come pretty close to our fiscal deficit target... We are cognizant of the fact that there could be a possibility (of wasteful expenditure)... we will be watchful, he said.

Mayarams comments come in wake of Vijay Kelkar Committee report which has pegged the receipt from disinvestment in the current fiscal at R10,000 crore as against the budgeted target of R30,000 crore.

With five months of the fiscal already over, the government is yet to come out with stake sale offers of any PSU.