Rs 60,000 crore from LIC IPO built into FY22RE disinvestment receipt

In the Budget presented on Tuesday, the government revised down disinvestment target by 56% to Rs 78,000 crore.

February 3, 2022 06:20 IST

The government is understood to have put a conservative amount from LIC IPO

The government has factored in a conservative Rs 60,000 crore from LIC IPO in the revised (RE) disinvestment receipt for the current financial year, but the actual proceeds from the issue are likely to be higher, sources told FE.

The government is understood to have put a conservative amount from LIC IPO as it did not want to give away the valuation of the insurer before valuation and size of the issue were officially revealed.

In the Budget presented on Tuesday, the government revised down disinvestment target by 56% to Rs 78,000 crore. Higher proceeds will help the government marginally bring down the fiscal deficit from FY22RE of 6.9% of GDP.

This article was first uploaded on February three, twenty twenty-two, at twenty minutes past six in the morning.