New Delhi: In Budget 2015-16, finance minister Arun Jaitley set divestment target at an ambitious Rs 69,500 crore. The Cabinet Committee of Economic Affairs (CCEA) has now approved 5 percent divestment on NTPC and 10 percent stake sale in IOC .
Earlier this year, the government divested 5 percent stake in REC through the offer for sale route, mopping Rs 1,550 crore. It was subscribed 5.53 times with retail participation at 902 percent, finance minister Arun Jaitley said in a tweet.
In Budget 2015-16, Jaitley has set divestment target at an ambitious Rs 69,500 crore. The government, however, had missed previous year’s target by more than a half. It had set a divestment target for 2014-15 at Rs 63,425 crore, but managed to raise only Rs 31,350 crore, which includes Rs 5,000 crore from sale of SDR (special drawing rights) to the Reserve Bank.
