Budget 2018: Government set to reap Rs 1 trillion via divestments this year

Target for 2018-19 raised to Rs 800 billion

The Centre is set to garner its highest-ever proceeds of Rs 1 trillion through divestment of state-owned entities in 2017-18, compared to a budgeted estimate of Rs 725 billion. And, for 2018-19, Finance Minister Arun Jaitley has set a target of Rs 800 billion for the Department of Investment and Public Asset Management (DIPAM).

The revised estimates of Rs 1 trillion is around Rs 110 billion more than the disinvestment proceeds of the previous two fiscal years put together. The centrepieces are, of course, the acquisition of HPCL’s 51 per cent stake by ONGC for Rs 369 billion and the