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Not by cosmetic changes alone

Disinvestment can get a shot in the arm by ministerial revamp, not by just a nomenclature change

capex, union budget, infrastructure
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Illustration: Binay Sinha

A K Bhattacharya
Last week’s Interim Budget made an interesting classification change that many people may not have noticed. Disinvestment, as a receipt item, did not figure as such in the Budget documents. Earlier, disinvestment would be a separate entry under the broad head of miscellaneous capital receipts. However, in the Interim Budget for 2024-25, the practice of showing a separate entry for disinvestment was done away with. The numbers shown against miscellaneous capital receipts were instead presented as what the government hoped to receive from the sale of government equity in public sector undertakings (PSUs).

Thus, instead of a projected disinvestment receipt of
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