Modi govt exceeds disinvestment target for FY19 as receipts hit Rs 85,000 crore

By: |
Updated: March 22, 2019 5:27:32 PM

The government on Friday said that it has exceeded the divestment target for FY19 by Rs 5,000 crore as the receipts have touched projected Rs 85,000 crore.

Arun Jaitley, 2019 elections, lok sabha election, PM Modi, Modi Hai To Mumkin Hai, Surgical Strikes, Air Strikes, PM second termThe Modi government had fixed the divestment target of Rs 90,000 crore for FY20.

The government on Friday said that it has exceeded the divestment target for FY19 by Rs 5,000 crore as the receipts have touched projected Rs 85,000 crore. “As against a target of Rs 80,000 crore for disinvestment for the current year, the divestment receipts have touched Rs 85,000 crores today,” Finance Minister Arun Jaitley tweeted.

The Modi government had fixed the divestment target of Rs 90,000 crore for FY20. In FY18, the government earned Rs 1,00,056.91 crore from disinvestment against a target of Rs 72,500 crore.

Also read: GSP withdrawal not to hit Indian exports much, but US firms may look for options, says veteran economist

In FY18, the budgeted target for disinvestment was Rs 72,500 crore. By the end of the fiscal year, the disinvestment receipts touched Rs 1 lakh crore, mainly on acount of about Rs 37,000 crore which came from a deal in which state-owned ONGC bought the centre’s 51 per cent equity stake in HPCL.

The target for FY17 was set at Rs 56,500 crore. However, the government was able to only gather Rs 47,743 crore.

Rs 9,500 crore were collected from the fifth tranche of CPSE ETF and Rs 14,500 crore from the REC-PFC deal.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.