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Home BUSINESS

FY20 disinvestment mop-up at Rs 50,298 cr, govt misses RE target

Press Trust of india by Press Trust of india
April 1, 2020
in BUSINESS
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FY20 disinvestment mop-up at Rs 50,298 cr, govt misses RE target
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New Delhi: The government has missed the collection target for the current financial year from CPSE disinvestment set in the Revised Estimates of Budget by about Rs 14,700 crore.

In the current financial year 2019-20, the actual disinvestment mop-up has come in at Rs 50,298.64 crore. In the Revised Estimates (RE), the government had estimated the disinvestment proceeds at Rs 65,000 crore, thus a shortfall of around Rs 14,700 crore.

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In the Budget 2019-20, disinvestment revenue was pegged at Rs 1.05 lakh crore. However, in the RE, the projection was lowered substantially to Rs 65,000 crore.

In the current financial year, the government has raised Rs 11,500 crore by way of strategic disinvestment of THDC and NEEPCO to state-owned power utility NTPC. Also, Kamarajar Port was sold for Rs 2,383 crore to Chennai Port Trust.

While two follow-on offers of CPSE ETF fetched Rs 26,500 crore, Bharat-22 ETF garnered Rs 4,368 crore.

Two initial public offerings (IPOs) — RVNL and IRCTC — helped garner Rs 1,113 crore, while RITES offer-for-sale (OFS) fetched Rs 1,130 crore.

Buyback of shares by MOIL, MDL and SPMCIL fetched Rs 821 crore to the exchequer, while Rs 600 crore came in by way of remittances from SUUTI. Further, Rs 1,881 crore was procured by way of selling enemy shares.

In the financial year 2015-16, the government had realised Rs 23,996.80 crore from CPSE disinvestment, lower than the Budget target of Rs 69,500 crore and RE of Rs 25,312 crore.

In the financial year 2016-17, the government had missed the budgeted disinvestment target. While the Budget had pegged target at Rs 56,500 crore, the government was able to mop up Rs 46,247 crore. This was, however, higher than the target set in RE at Rs 45,500 crore.

In 2017-18, it bettered the target of Rs 1 lakh crore and raised a record Rs 1,00,056 crore. In 2018-19, the disinvestment mop-up stood at Rs 84,972 crore as against the Budget target of Rs 80,000 crore.

In 2019-20, after a gap of 2 years, the government has missed the disinvestment target set in Budget.

For 2020-21 fiscal beginning April 1, 2020, the Budget pegged the disinvestment proceeds at Rs 2.10 lakh crore. This includes Rs 1.20 lakh crore from CPSE share sale and Rs 90,000 crore from share sale in public sector banks and financial institutions, including listing of insurance behemoth LIC.

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