The government will raise its asset sale target by 41 per cent as FM Arun Jaitley looks to trim the widest budget deficit among emerging markets, according to two ministry officials with direct knowledge of the matter.
The government plans to earn about Rs 80,000 crore by selling stakes in companies, including Coal India Ltd and Power Finance Corp, higher than the Rs 56,925 crore estimated in the interim Budget, the officials said, asking not to be named as the projections are private.
The decision follows a June 19 ruling by the capital markets regulator that requires state-owned companies to have at least 25 per cent public shareholding.
