Disinvestment target for FY'14 not less than Rs 30K crore: FM
Hong Kong: The government is likely to fix disinvestment target for the next fiscal at not less than Rs 30,000 crore, the target for the current fiscal, Finance Minister P Chidambaram said on Tuesday.
"I have not drawn up the size of the next year's programme, but preliminary thoughts, it will not be less than this year. This year we targeted Rs 30,000 crore and it will be not be less than that," Chidambaram, who addressed investors meet, told media here.
The Finance Minister is scheduled to present the Union Budget on February 28 wherein he is likely to announce the disinvestment target for the 2013-14 fiscal.
In the current fiscal, the government has budgeted to raise Rs 30,000 crore through disinvestment of public sector units. So far this fiscal, it has been able to raise over Rs 6,900 crore.
"There is no privatisation. We are committed to maintain the public sector. Government will continue to hold 51 percent of the equity. But even with that there is ample head room for disinvestment and we are going ahead with it," he said.
The government has already identified 10 PSUs, including Oil India, NTPC, Bhel and SAIL for selling minority stake.
Chidambaram said he has got Cabinet approval to continue disinvestment programme for the next few years.
"The only change we made (is that) the disinvestment will go into fund which will be used to capitalise our public sector banks and any other capital expenditure requirements," he said.
On challenges to the growth, he said the biggest challenge is to "walk the talk and staying on the course" of reforms.
"There will be difficulties and opposition. If we are convinced as we are that we should stay on this course, the challenge is to remain in course," he said.