India targets 300 bln rupees from asset sales in 2012/13

The Indian government aims to raise 300 billion rupees ($5.96 billion) from selling stakes in state-run firms in the fiscal year that starts next month, finance minister Pranab Mukherjee told lawmakers on Friday in his budget speech.

The Indian government aims to raise 300 billion rupees ($5.96 billion) from selling stakes in state-run firms in the fiscal year that starts next month, finance minister Pranab Mukherjee told lawmakers on Friday in his budget speech.

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The government had aimed to raise 400 billion rupees from asset sales in the current fiscal year. However, it has so far managed to get just about 139.34 billion rupees.

($1=50.32 Indian rupees)