Budget 2018: Modi govt targets disinvestment receipts of Rs 900 billion

Eyeing Rs 1 trillion budget target through disinvestment for next fiscal, the Modi government may end FY18 with Rs 900 billion selloff, almost twice the record figure of Rs 460 billion achieved last year, on the back of its stake sale in Hindustan Petroleum Corporation (HPCL) to Oil and Natural Gas Corporation (ONGC), according to The Time of India report.

The deal is likely to fetch the government Rs 300 billion, the report said quoting sources. 

The sale of the government's stake in HPCL to ONGC is stuck on valuation. According to persons close to the development, the effort was