Disinvestment

Govt falls short of disinvestment target, posts stronger dividend receipts

The dividend receipts from CPSEs grew more than 37 per cent to Rs 58,988 crore against the Revised Estimates (RE) target of Rs 43,000 crore

Govt may close FY23 with Rs 50,000 cr shortfall in direct tax mop up

Deficit in overall indirect tax receipts likely due to contraction in customs and excise collections

Govt exceeds FY23 RE target of combined disinvestment, dividend mop up

The government has exceeded the revised estimates of collection from disinvestment and dividend combined in the current fiscal at Rs 94,282 crore. The revised estimates (RE) had pegged receipts from disinvestment and dividend at Rs 93,000 crore. In 2022-23, dividend receipts stood at Rs 58,988.34 crore and disinvestment receipts at Rs 35,293.52 crore. Together, the government has realised Rs 94,281.86 crore as disinvestment and dividend proceeds from CPSEs as on March 31, 2023. The Revised Estimate for disinvestment and dividend proceeds FY2022-23 is Rs 93,000 crore, which includes disinvestment mop up at Rs 50,000 crore and dividend of Rs 43,000 crore.

HAL disinvestment: Offer for sale subscribed two-fold after slow start

Share sale firms up state-owned defence firm's chances of MSCI India inclusion

AIESL divestment to augur well for civil aviation industry: Govt official

The disinvestment of Air India Engineering Services Ltd (AIESL), which is hopefully expected to go through in the next couple of months, will augur well for the country's civil aviation industry, a top government official said on Tuesday. Civil Aviation Secretary Rajiv Bansal also said the company has a healthy "topline and bottomline". Air India along with Air India Express was acquired by Tata Group in January last year through a disinvestment process. AIESL, a major player in the maintenance, repair and overhaul (MRO) segment, is among the four subsidiaries of erstwhile government-owned Air India and is now under Air India Assets Holding Ltd (AIAHL). "We are in the process of divesting AIESL... Once this disinvestment goes through, hopefully in a couple of months from now, it will also augur well for the Indian civil aviation industry," Bansal said and expressed hope that there will be a good number of interested parties for the company. Expression of Interest (EoI) is expected

IDBI Bank privatisation on track as per strategic sale process: DIPAM

The government on Friday said the disinvestment of IDBI Bank is on track as per the defined strategic sale process. Debunking media reports which indicated a possibility of deferment of IDBI Bank disinvestment, the Department of Investment and Public Asset Management (DIPAM) said the stake sale is in the post-EoI stage. "The transaction continues to be on track as per the defined process in post-EoI stage following receipts of multiple EoIs," DIPAM Secretary Tuhin Kanta Pandey tweeted. The government and the LIC are together selling about 61 per cent stake in IDBI Bank and had in January received multiple Expressions of Interest (EoIs) for the same. DIPAM, which manages government holding in state-owned enterprises, in October last year invited EoIs for selling a 30.48 per cent stake in IDBI Bank, along with LIC's 30.24 per cent stake in the bank. The government and LIC together hold a 94.72 per cent stake in IDBI Bank, which will come down to 34 per cent after the strategic ...

Govt may miss FY23 revised divestment target, says Bank of Baroda

"Of this, Rs 1.7 trillion can come from public sector enterprises and Rs 1.8 trillion from public sector financial institutions," the report stated

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FY24 disinvestment target pragmatic, but challenging: Dipam Secy Pandey

'Privatisation processes are BMMP (bandwidth, market available, minority shareholders, and the process)', said Tuhin Kanta Pandey

Hits and misses: India's disinvestment strategy needs to mind markets

It is rare for the government to sell assets when prices and sentiment are high

Budget 2023-24: Asset sale target pegged at Rs 51,000 crore for FY24

Current year projection slashed to Rs 50,000 cr from Rs 65,000 cr

Budget 2023: Govt pegs FY24 disinvestment revenue target at Rs 51,000 crore

The government has scaled down the disinvestment target for the current fiscal to Rs 50,000 crore, from Rs 65,000 crore budgeted last year, a finance ministry official said on Wednesday. For the next fiscal 2023-24, the Budget has pegged disinvestment revenue at Rs 51,000 crore. Further, about Rs 10,000 crore is expected to come from monetisation of government assets in the current year and well as in the next fiscal. The proceeds from disinvestment form part of the miscellaneous receipts in the Capital Receipts Budget. As per the 2023-24 Budget document, the revised estimate for miscellaneous capital receipts for the current fiscal has been pegged at Rs 60,000 crore, lower than the Rs 65,000 crore projected in the Budget estimates for 2022-23. This Rs 60,000 crore includes Rs 50,000 crore from disinvestment proceeds and Rs 10,000 crore on account of asset monetisation, the official said. For the next fiscal beginning April 1, the miscellaneous capital receipts have been pegged a

No separate mention of disinvestment proceeds in Union Budget 2023-24

The Budget for 2023-24 has not separately mentioned the amount that the government plans to raise from disinvestment or privatisation of state-owned companies. Earlier, proceeds from disinvestment were shown separately as part of the miscellaneous receipts in the Capital Receipts Budget. As per the 2023-24 Budget document, the revised estimate for miscellaneous capital receipts for the current fiscal has been pegged at Rs 60,000 crore, lower than the Rs 65,000 crore projected in Budget estimates for 2022-23. For the next fiscal beginning April 1, the miscellaneous capital receipts have been pegged at Rs 61,000 crore. As per the DIPAM website, the government has so far mopped up over Rs 31,100 crore by way of minority stake sale in CPSEs, as against the full-year Budget target of Rs 65,000 crore. For the next fiscal, companies like Shipping Corporation of India, NMDC Steel Ltd, BEML, HLL Lifecare, Container Corporation of India and Vizag Steel, besides IDBI Bank, are in the ...

Disinvestment proceeds of Rs 4.07 trn realised in last 9 years: Eco Survey

About Rs 4.07 lakh crore has been realised as disinvestment proceeds in the past nine years, and post-2014 the government is engaging with the private sector as a co-partner in the development, the Economic Survey said on Tuesday. In the current fiscal, out of the budgeted amount of Rs 65,000 crore, 48 per cent or over Rs 31,000 crore has been collected as of January 18, 2023. The survey said privatisation of Air India re-ignited the privatisation drive, and evidence shows that labour productivity and the overall efficiency of the PSUs disinvested during 1990-2015 has improved. "During FY15 to FY23 (as of 18 January 2023), an amount of about Rs 4.07 lakh crore has been realised as proceeds from disinvestment through 154 transactions using various modes/instruments," said the Survey tabled in Parliament by Finance Minister Nirmala Sitharaman. Of this, Rs 3.02 lakh crore was realised from minority stake sale and Rs 69,412 crore was realised from strategic disinvestment transactions i

National Workers Convention resolves to give a call for strike by year end

The National Convention of Workers on Monday has resolved to give a call for nationwide strike in the end of this year to protest against issues including proposed implementation of labour codes, privatisation and disinvestment. The National Convention of Workers held on the martyrdom day of Rashtrapita Mahatma here in the capital, a statement said. The convention adopted the Declaration unanimously and resolved to resort to nationwide strike action in the end of the year, it stated. It stated that the government which failed on all fronts to deliver on the promises is now allowing the forces of communal hatred and polarization under various pretext to divert the united agitations of workers, farmers and other sections of the society from their pressing issues of livelihood and survival. The leaders of INTUC, AITUC, HMS, CITU, AIUTUC, TUCC, SEWA, AICCTU, LPF, and UTUC among others participated in the convention. Quoting the latest Oxfam report, they explained about the growing ...

Budget 2023-24: Centre to target higher capex but lower fiscal deficit

Budget 2023-24: The Centre is expected to peg the fiscal deficit target for FY24 below 6 per cent, and the capex is likely to jump 20-30 per cent

Core group of secretaries to hold meeting today to clear Concor EoI

The meeting is to be chaired by the cabinet secretary

Small, mid CPSEs likely to be on Centre's FY24 disinvestment list

Government officials hinted that efforts were being taken to conclude stake sale of Shipping Corp and BEML by March

FY24 disinvestment target to be around Rs 60K-cr, big ticket deals unlikely

The government's decision to not list any new entity for privatisation may be because of the prevailing market conditions

Centre asks Tata to deduct salary of those overstaying in government colony

The Centre had asked its employees to vacate the accommodation by July 26, six months after AI's disinvestment