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'Centre to miss divestment targets by more than half'
Hindustan Times
|November 25, 2023
The Indian government will struggle to raise even half the proceeds it had targeted from planned sales of state-run firms this year and will miss divestment targets for the fifth straight year, people with knowledge said, as elections shift government priorities.
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The government may fall short of its divestment goal by ₹30,000 crore in 2023-24, two people from the government told Reuters. The central government had targeted v51,000 crore from divestment proceeds for the current fiscal year that ends March, 2024.
In 2023-24, about ₹30,000 crore of the ₹51,000 crore target was expected through stake sales in IDBI Bank and the privatisation of state-owned NMDC Steel.
However, delays in vetting of interested buyers for IDBI by the Reserve Bank of India, the banking regulator, have stretched the sale timeline beyond the 2024 elections.
This story is from the November 25, 2023 edition of Hindustan Times.
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