Disinvestment target set at Rs 69,500 cr for 2015-16

Saturday, Feb 28, 2015,19:45 IST By metrovaartha A A A

New Delhi | The government aims to mop up Rs 69,500 crore through PSU disinvestment and strategic sale of equities in 2015-16, which is double the amount expected to be garnered in the current fiscal.
For the current fiscal, disinvestment proceeds are projected at Rs 31,350 crore in the revised estimates. This is lower than Rs 58,425 crore budgeted earlier.
The Budget reflects considerable scaling up of disinvestment figures. This will include both disinvestment in loss making units and some strategic disinvestment, Finance Minister Arun Jaitley said in his budget speech.
The government has raised about Rs 24,500 crore through disinvestment in SAIL and Coal India in the current fiscal. It expects to raise Rs 6,850 crore in the remaining one month of the fiscal ending March.
The disinvestment department has lined up a host of companies including 5 per cent in ONGC, Dredging Corp, and Bharat Heavy Electricals (BHEL).
Besides, 10 per cent each in Indian Oil Corporation, National Aluminium Company (NALCO) and NMDC are also being planned.
It is also planning to list RINL and Hindustan Aeronautics through a 10 per cent stake dilution.