New Delhi: The government has garnered Rs 16,507 crore by selling minority stake in state-owned companies in 2023-24 fiscal, lower than what was projected in its revised estimates.
During the 2023-24 fiscal, which ended March 31, the government sold stakes in 10 central public sector enterprises (CPSEs) through offer for sale (OFS).
Share sale in Coal India fetched Rs 4,186 crore, while in NHPC and NLC India it garnered Rs 2,488 crore and Rs 2,129 crore, respectively. The government raised Rs 858 crore though initial public offering of IREDA.
The government also sold shares in RVNL, SJVN, IRCON International, HUDCO and earned remittances from SUUTI.
The budget had pegged disinvestment proceeds for 2023-24 fiscal at Rs 51,000 crore. However, the revised estimates (RE) February 1, 2024, did away with separate head for disinvestment receipts.
Under the heading of capital receipts, the government estimated to collect Rs 30,000 crore. Officials said this include Rs 20,000 crore from disinvestment and RS 10,000 crore from asset monetisation.
The actual collections for FY’24 through OFS and share sale to employees at the end of March 31, 2024, stood at Rs 16,507.29 crore, according to the data on the website of DIPAM (Department of Investment and Public Asset Management).
The government historically has been missing the disinvestment targets set in budgets with the exception of 2018-19 and 2017-18 financial years.
The highest ever mop-up from disinvestment at Rs 1,00,056 crore was recorded in 2017-18, marginally exceeding the budget target of Rs 1 lakh crore.
In 2018-19, the government collected Rs 84,972 crore from CPSE disinvestment, higher than Rs 80,000 crore pegged in the Budget for that year.
PTI
