2023-12-18 08:31:50
India’s fiscal deficit in the first seven months of the financial year ending on March 31, 2024 was Rs 8.04 lakh crore ($96.86 billion), or 45% of the estimate for the whole year, according to data released by the government last month.
However, the government has collected only Rs 10,050 crore from selling stakes in government-run firms as of Dec. 13, against its full-year target of Rs 51,000 crore, Karad told lawmakers.
“It is difficult to anticipate the quantum of actual proceeds from divestment during the current financial year 2023-24,” because stake sales depend on factors including market conditions and investor appetite, Karad said.
The Indian government could miss its stake sale target for the fifth straight year, and will struggle to raise even half of the proceeds it had targeted from planned sales of state-run firms this year, Archyde.com reported last month.
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