Budget 2019-Disinvestment Target: Nirmala Sitharaman eyes Rs 1.05 lakh crore in FY20 goal
Nirmala Sitharaman announced the govt will generate Rs 1.05 lakh crore by divesting the loss-making PSUs.
Budget 2019: Nirmala Sitharaman announced to generate Rs 1.05 lakh crore by divesting the loss-making PSUs - Modi government has achieved Rs 90,000 crore divestment target in the previous fiscal. India Inc experts are of the opinion that Air India could be the topmost target in the government's list of companies to be divested this year.
Speaking on the announcement Rajiv Singh, CEO at Karvy Stock Broking said, "The government has announced a divestment target of 1.05 lakh crore for FY20. This is one of the ambitious targets set by the government after they successfully achieved the Rs 90,000 crore target in the last financial year. The government needs buoyant market conditions to meet this target. The government has stated they are looking at the strategic sale (or privatization) and this target may include the strategic sale of Air India, probably the first one which may be divested. However, most of this divestment target will most probably be met by transferring state to CPSE ETFs, Offer For Sale or by selling a stake to institutions like LIC."
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#BudgetWithZEE | #ModiSarkar2 का पहला 'बहीखाता'- देखिए वित्त मंत्री #NirmalaSitharaman #LIVE... #Budget2019 @AnilSinghviZEE @kunalsaraogi @iamrakeshbansal @Vishvesh03 @kiran_jadhav_ @SandeepKrJainTS @ashumadan4 @sanjiv_bhasin @Ajay_Bagga https://t.co/B3ovrxIZl5
— Zee Business (@ZeeBusiness) July 5, 2019
The government of India has made series of attempts to bring the national carrier Air India into the profit-making zone but all its attempts in the past have gone in vain and now the speculations are rife that the Modi 2.0 Government is mulling seriously to divest Air India in FY20.