Disinvestment target during financial year 2015 16

The budget estimate (BE) for disinvestment during the financial year 2015-16 was ₹ 69,500 crore comprising ₹ 41,000 crore from disinvestment of Central Public Sector Enterprises (CPSEs) and ₹ 28,500 crore from strategic disinvestment. Against this target, Government has realized ₹ 23, 997crore (approx) from disinvestment of CPSEs during the year 2015-16. In addition, an amount of ₹ 1023 crore (approx) has been realized as buyback tax on account of buyback transaction, undertaken by unlisted CPSEs and ₹ 8,152 crore on account of sale of bonus debentures of NTPC to EPFO.

The budget estimate (BE) for disinvestment during the financial year 2016-17 is ₹ 56,500 crore, comprising ₹ 36,000 crore as disinvestment receipts from CPSEs and ₹ 20,500 crore from strategic disinvestment.

In order to achieve the disinvestment target of financial year 2016-17, the following steps have been taken by the Government:

(i) An amount of ₹ 3,183 crore (approx) has been realized from disinvestment of NHPC and Employee OFS of IOCL and NTPC.

(ii) Government has expressed intent to participate in buyback shares proposed by NALCO, MOIL, NMDC and CIL.

(iii) Some CPSEs have been identified for disinvestment in sectors like mineral and metal, oil, energy, capital goods as well as some mid-size and small stocks.

(iv) In line with the announcement made in the Budget 2015-16, the Cabinet Committee on Economic Affairs in its meeting held on 17th February, 2016 approved the structure for ''strategic disinvestment'' of CPSEs.

This information was given by Minister of State for Finance Shri. Arjun Ram Meghwal in written reply to a Rajya Sabha question.