DIPAM's internal estimates had pegged FY23 divestment target at Rs 1.2 trn

Target rationalised to for better accounting, avoiding market distortion

While an internal assessment by the Department of Investment and Public Asset Management (DIPAM) had initially pegged the disinvestment receipts for 2022-23 at Rs 1.2 trillion, the government pared down the target to Rs 65,000 crore in the Budget, given the repeated failures to achieve ambitious targets over the years, and to avoid the unrealistic target seen to plug fiscal deficit.

An internal evaluation by the department had estimated divestment receipts of Rs 1.2 trillion, considering the big-ticket privatisations of Bharat Petroleum Corporation, Shipping Corporation of India, and IDBI Bank, among others. However, the decision was taken to refrain from budgeting