Centre may announce a higher stake sale target in FY18

Seeks to max revenues to fund populist steps, Suuti stakes in Axis Bank, L&T, ITC to be sold in FY18

The upcoming 2017-18 Union Budget may announce a much higher disinvestment target, compared to the current financial year, as the Centre looks to maximise revenue opportunities to fund a number of likely populist announcements.

In the coming financial year, the focus will be on more strategic sales and initial public offerings of state-owned companies and their subsidiaries. A big chunk of the stake that the Centre holds in Axis Bank, Larsen & Toubro (L&T) and ITC through Specified Undertaking of Unit Trust of India (Suuti) may be sold next financial year, Business Standard has learnt from government sources.