Govt. has set the disinvestment target at 50,000 crores: Jaitley

Finance Minister Arun Jaitley on Thursday said the government has set the target for disinvestment in Public Sector Undertakings (PSUs) at Rs.50, 000 crores.

"Tactically, I have not put the disinvestment part in the speech. I have put it in the budget papers. I have fixed a target of approximately 50,000 crores for disinvestment," said Jaitley in an exclusive interview with ANI's Editor (News) Smita Prakash.

He said he is following the practice of the UPA Government in which some PSU's were selected, which would offload shares in the market.

Responding to allegations of possible crony capitalism in the process of disinvestment, Jaitley said, "It is an outdated jargon."

On being asked about the biggest risk to the economy, both internally and externally, he said that the Iraq crisis and failed monsoon are the biggest risks.

"We have a plan, if there is an inadequate monsoon in the country. We have surplus food grain for the country. So, as of now there is no need to panic," he said.

"Nobody has control over the nature. But I don't think we should get into too many probabilities at that stage. We have seen late monsoons in India earlier also," he added. (ANI)

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