In a bid to shore up its disinvestment kitty ahead of the end of the fiscal, the Centre raised Rs. 13,883 crore through strategic sale of its stake in two state-owned power companies, THDCIL and NEEPCO, and Kamarajar Port Ltd to other state-owned entities.
It has sold 74.49 per cent stake in THDC India Ltd (THDCIL) for Rs 7,500 crore and 100 per cent in North Eastern Electric Power Corporation (NEEPCO) for Rs 4,000 crore to state-owned power utility NTPC. Further, the Centre sold 66.67 per cent in Kamarajar Port Ltd to Chennai Port Trust for Rs 2,383 crore.
This takes the Centre’s total collections from disinvestment at Rs 48,728.06 crore so far in FY20, which still falls short of the revised target of Rs 65,000 crore for the ongoing financial year.
Important Info :
Targets for next financial year:
For the upcoming fiscal’s budget, the government has announced an ambitious disinvestment agenda, aiming to raise Rs 2.1 lakh crore via stake sales, including plans to list Life Insurance Corporation on stock exchanges and sale of its stake in IDBI Bank.
Privatisation of BPCL, Container Corporation of India, Shipping Corporation of India and national carrier Air India will be other key issues next year.
Source : Economic Times