Govt Surpasses Disinvestment Target For FY19 By Rs 5,000 Crore

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On Friday, the government said that it has exceeded its disinvestment target for the current fiscal year 2018-19 by Rs 5,000 crore. Disinvestment proceeds have touched Rs 85,000 crore. The government’s target was set at Rs 80,000 crore.

Govt Surpasses Disinvestment Target For FY19 By Rs 5,000 Crore

“As against a target of ₹80,000 crore for disinvestment for the current year, the divestment receipts have touched ₹85,000 crores today,” tweeted Finance Minister Arun Jaitley.

This month, the government mopped up Rs 9,500 crore with the fourth further fund offer (FFO) of CPSE ETF (exchange-traded fund), an ETF with 11 public sector companies in the energy sector. Further, it raised Rs 14,500 crore after Power Finance Corporation (PFC) finalized that it will be acquiring the entire 52.63 percent stake of the government in REC (Rural Electrification Corporation), which is also government owned.

The disinvestment target for the next fiscal year 2019-20 has been fixed at Rs 90,000 crore.

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