Government has already met one-third of its Rs 65,000-cr disinvestment target for this year. But legal and procedural delays with high-value companies are now posing hurdles.
While govt was successful in selling Air India to Tatas, BPCL got pushed to the new financial year. The hope was it would be among the first big-ticket deals early in 2022-23.
Since 2014, shortfall in disinvestment targets was highest in 2021-22 in percentage terms, even though absolute figure peaked last year at Rs 1.72 lakh crore.
SC in November ordered CBI investigation into Vajpayee govt’s 2002 sale of HZL shares to Sterlite. Govt responded with application saying CBI’s basic facts were wrong.
Govt had set ambitious target of Rs 1,75,000 crore in Union Budget, with over a third of receipts targeted from the listing of Life Insurance Corporation and privatisation of BPCL.
In written reply, MoS Finance Bhagwat Karad listed status of every PSU that was selected. He explained why process has been halted in some, while others are caught in litigation.
The 20.1% growth in Q1 FY22 was largely driven by the base effect. Structural reforms including disinvestment and bank privatisation needed to ensure a sustained growth path.
The govt said Air India disinvestment will bring private investment, robust management and faster decision making processes, which will improve the efficiency of the airline.
According to the statement, the extent of respective shareholding to be divested by govt & LIC will be decided at the time of structuring of transaction in consultation with RBI.
The US could have used its coercive resources to compel Pakistan to shut down the Taliban’s transborder sanctuaries. It chose not to—costing its victory.
The government will permit purchases of 2 million tons each of the two vegetable oils per annum this fiscal year and the next, according to a notification by the finance ministry.
India is 35th member of the maritime counterterrorism partnership that also includes Pakistan, Australia, Bahrain, Denmark, Egypt, France, Germany and Greece, among others.
That temples were destroyed and mosques built is undisputed history. The past can’t be changed, but we can’t deny the wrongs of the past either before we consider reconciliation.