Disinvestment target during FY 2015-16

Arun Jaitley-indianbureaucracy
Arun Jaitley-indianbureaucracy

The budget estimate (BE) for disinvestment during the financial year 2015-16 was Rs. 69,500 crore comprising Rs. 41,000 crore from disinvestment of Central Public Sector Enterprises (CPSEs) and Rs. 28,500 crore from strategic disinvestment. Against this target, Government has realized Rs.23, 997crore (approx) from disinvestment of CPSEs during the year 2015-16. In addition, an amount of Rs. 1023 crore (approx) has been realized as buyback tax on account of buyback transaction, undertaken by unlisted CPSEs and Rs. 8,152 crore on account of sale of bonus debentures of NTPC to EPFO.

The budget estimate (BE) for disinvestment during the financial year 2016-17 is Rs. 56,500 crore, comprising Rs. 36,000 crore as disinvestment receipts from CPSEs and Rs. 20,500 crore from strategic disinvestment.

In order to achieve the disinvestment target of financial year 2016-17, the following steps have been taken by the Government:

(i) An amount of Rs.3,183 crore (approx) has been realized from disinvestment of NHPC and Employee OFS of IOCL and NTPC.

(ii) Government has expressed intent to participate in buyback shares proposed by NALCO, MOIL, NMDC and CIL.

(iii) Some CPSEs have been identified for disinvestment in sectors like mineral and metal, oil, energy, capital goods as well as some mid-size and small stocks.

(iv) In line with the announcement made in the Budget 2015-16, the Cabinet Committee on Economic Affairs in its meeting held on 17th February, 2016 approved the structure for ”strategic disinvestment” of CPSEs.

IndianBureaucracy.com wishes the very best.

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