LIC IPO, IDBI stake sale to lead govt's Rs 2.1-trn sell-off drive in FY21

Next year's target is the highest ever

After drawing a blank on strategic sales so far in the current fiscal year, the Union government is banking on a massive increase in disinvestment proceeds next fiscal year. A major highlight would, however, be sale of minority share in Life Insurance Corporation (LIC) through an initial public offer.
 
The disinvestment target for 2020-21 has been set at Rs 2.1 trillion, which includes Rs 90,000 crore from public sector banks and financial institutions. Besides LIC, the government is looking to sell its remaining stake in IDBI Bank. “The Rs 90,000 crore for financial sector disinvestment will come from LIC