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Government eyes Rs 90,000 crore from CPSE share sale in FY20

Agencies

New Delhi: The government plans to raise Rs 90,000 crore from the share sale of central public sector enterprises (CPSEs) for the financial year 2019-20. Already, Rs 36,000 crore have been raised from disinvestment in the current fiscal. A further Rs 44,000 crore is likely to be raised by March 2019. Finance Minister Piyush Goyal said that the NDA government has pursued the public enterprises’ asset management agenda to make these enterprises accountable to the people.

“As many as 57 CPSEs are now listed, and they command a total market capitalisation of over Rs 13 lakh crore. The government received over Rs 1 lakh crore from disinvestment proceeds during 2017-18. We are confident of crossing the Rs 80,000 crore-target this year,” Goyal said.

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Department of Investment and Public Asset Management (DIPAM) Secretary Atanu Chakraborty said that, historically, about 45-55 per cent of CPSE share sale happens in the January-March quarter. Plans are afoot to meet the Rs 80,000-crore target for the current fiscal ending March. The government had mopped up a record of over Rs 1 lakh crore in 2017-18. This was higher than the Rs 47,743 crore raised in 2016-17; Rs 42,132 crore in 2015-16; and, Rs 32,620 crore in 2014-15.