According to Tuhin Kanta Pandey, Secretary of the Department of Investment and Public Asset Management (DIPAM).
The government has revised its divestment target for the next fiscal year to Rs 30,000 crore, down from Rs 51,000 crore previously.
In the following fiscal year, the government estimates it will generate Rs 50,000 crore in miscellaneous capital receipts through a new approach to divestment.
Pandey emphasized the importance of maintaining listed companies’ performance and rewarding shareholders.
The government has so far achieved 40% of this year’s revised divestment target, with the majority of funds coming from offers for sale and initial public offerings.
Dividends from public sector enterprises have also exceeded expectations.
Plans for privatisations have been delayed due to the Covid-19 pandemic. The government is expected to complete strategic sales of certain CPSEs this year.
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