Govt crosses divestment target for 2nd year in a row; rakes in Rs 85,000 cr

In FY18, Centre raised Rs 1 trn, compared to a budgeted target of Rs 72,500 cr

Finance Minister Arun Jaitley said in a tweet on Friday that the government had exceeded its disinvestment target of Rs 80,000 crore for 2018-19 by Rs 5,000 crore, taking the proceeds to Rs 85,000 crore. The Department of Investment and Public Asset Management (DIPAM) has crossed the disinvestment target for the second year in a row. 

On Friday, Power Finance Corp completed the acquisition of the government’s 52.63 per cent stake in Rural Electrification Corp for Rs 14,500 crore. The fifth tranche of the Central Public Sector Enterprise Exchange Traded Fund (CPSE ETF) also closed on Friday, clocking in Rs 9,500