The government has set a target of Rs. 55,814 crore that it expects to earn by selling equity in state-owned companies in 2013-14 as the stage appears set to press the accelerator on the disinvestment programme.
The government plans to raise Rs. 14,000 crore by selling some of its shares in companies like Hindustan Zinc, Balco and SUUTI, where it has residual stakes, finance minister P Chidambaram said."We have taken credit of Rs. 40,000 crore by way of disinvestment, Rs. 14,000 crore comes from residual stake in non-government companies. There are a number of non-government companies in which government has residual stake. We are talking about sale of that stake," he said while addressing a post-Budget press conference here.
As against the budgeted estimate of Rs. 30,000 crore, the government has so far managed to raise Rs. 24,000 crore.
"This shortfall should be seen against adverse market conditions and at one point it appeared that there will be a major shortfall. However, the government’s active stance not only helped in realisation of receipts but also helped in revival of the market," the ministry said.