New Delhi: The government may have the privatization of Indian air which is very delayed from the road, but so far this year has succeeded in mopping RS 9,330 Crore from Disinvestment, which is only more than 5% of RS 1.75-Lakh-target crore for this year.
And, with around nine weeks for the end of the financial year, the government may lack the target, with the initial public offer by life insurance companies is estimated to narrow the gap significantly.
“The amount of LIC investment will be included in this year (budget) because we aim to register before March 31,” Department of Investment and Management of Public Assets (Depam) Secretary Tuhin Kanta Pandey to the news agency.
The target includes a mop-up of Crore Rs 1 lakh from banks and financial institutions and Rs 75,000 Crore from other PSUs.
Even though the year has begun on a positive note with the center hoping to reach several strategic sales in the pipeline – from BPCL oil retailers to the shipping company and concor – nothing materialized.
Likewise, bank privatization exercises, including IDBI banks, are still on the drawing board.
Apart from Air India, so far, the government only succeeded in completing the sales of the electronics center, which will pick him up Rs 260 Crore.