The government is all set to cross annual disinvestment target this fiscal for the first with ONGC buying the Centre\u2019s entire 51% stake in HPCL for Rs 36,915 crore.<\/p>\n
Total disinvestment proceeds during the current financial year 2017-18 stood at Rs 54,337.60 crore (as on January 11, 2018).<\/p>\n
With its stake sale in HPCL, the government\u2019s disinvestment receipt will work out to be Rs 91,252.6 crore.<\/p>\n
The higher receipt from disinvestment will help the government in sticking to its fiscal deficit target of 3.2% of the GDP this financial year, which may see lower collections from the newly introduced Goods and Services Tax.<\/p>\n
In the Union Budget presented on February 1 last year, Finance Minister Arun Jaitley had set the target of disinvestment in public sector units at Rs 72,500 crore.<\/p>\n
This include Rs 46,500 crore as disinvestment of CPSEs, Rs 15,000 crore from strategic disinvestment and Rs 11,000 crore from listing of insurance companies.<\/p>\n
The government reduced its stake in several PSUs this year, including HUDCO, EIL, NTPC, NALCO and OIL. Two state- owned insurance companies, GIC and New India Assurance were listed on stock exchanges this fiscal.<\/p>\n
In the last fiscal, the government had raised a record Rs 46,247 crore. In the Budget for 2016-17, it had set a target of Rs 56,500 crore from disinvestment. Later in the the Revised Estimates, the target was scaled down to Rs 45,000 crore.<\/p>\n
State-owned Oil and Natural Gas Corp (ONGC) today announced acquisition of the government\u2019s entire 51.11 per cent stake in oil refiner HPCL for Rs 36,915 crore, paying a premium of over 10 per cent.<\/p>\n
Earlier in the month, the government had announced to curtail its additional market borrowing programme by 60 per cent to Rs 20,000 crore.<\/p>\n
The decision to lower additional borrowing, which was taken after a review of revenue receipts and expenditure, will help contain fiscal deficit that has come under stress on account of lower GST mop up.<\/p>\n","protected":false},"excerpt":{"rendered":"
The government is all set to cross annual disinvestment target this fiscal for the first with ONGC buying the Centre\u2019s entire 51% stake in HPCL for Rs 36,915 crore. Total disinvestment proceeds during the current financial year 2017-18 stood at Rs 54,337.60 crore (as on January 11, 2018). With its stake sale in HPCL, the […]<\/p>\n","protected":false},"author":1,"featured_media":19390,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[410],"tags":[],"class_list":["post-19389","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/19389","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/comments?post=19389"}],"version-history":[{"count":1,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/19389\/revisions"}],"predecessor-version":[{"id":19391,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/19389\/revisions\/19391"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media\/19390"}],"wp:attachment":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media?parent=19389"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/categories?post=19389"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/tags?post=19389"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}