Budget 2022: Divestment target for FY23 set at a modest Rs 65,000 crore

FY22 divestment mop up revised to Rs 78,000 crore from Rs 1.75 trillion pegged earlier

Breaking from its tradition of last three years of setting ambitious divestment targets, the Centre has pegged the next year’s target at a conservative Rs 65,000 crore. 

The divestment target for the current financial year has been slashed by over 55 per cent to Rs 78,000 crore as its big ticket privatisation proposals have seen a delay, now pinning on the listing of Life Insurance Corporation of India (LIC) to meet the revised target.

“Keeping a high divestment target, sometimes distorts the market,” said Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said. “Nothing stops us