Indian Union Budget 2011-12 : Divestment target set at Rs 40000 crore

by khalid on 21/03/2011 · 0 comments

Finance Minister Pranab Mukherjee has set the divestment target for the financial year FY 2011-12 at Rs 40000 crore. However Rs. 22144 crores raised during this fiscal FY 2010-11. The minister said that the Government is committed to retain at least 51% ownership and management control of the Central Public Sector Undertakings (CPSUs).

Maintaining the momentum on disinvestment, in the current fiscal year FY 2010-11, six public issues of CPSUs have attracted around 50 lakh retail investors broad basing the ownership of CPSUs. Upcoming divestment IPOs are RINL, MMTC, PFC and NBCC.

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