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    India’s divestment drive and the road ahead

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    India’s divestment drive and the road ahead

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    As we countdown to the Union Budget, here’s a brief snapshot of all the strategic sales that was discussed and came to life in the current fiscal.

    Finance Minister Nirmala Sitharaman had listed a number of strategic stake sales to be completed in the current financial year, out of which only Air India has been a done deal so far. Handover to the Tatas is likely now around January 14.
    Also, the failure of privatisation of BPCL to take off has been a setback for the divestment aim. The government's big hope now is a listing of LIC in March FY23 and until that happens, divestment receipts currently stand around 10,000 crore way off from the target of 1.75 lakh crore.
    The finance minister had also expressed the intent to privatise two public sector banks and a general insurance company in the current financial year itself. As there is no action on this, clearly, these transactions now get pushed to the next fiscal.
    Watch the accompanying video of CNBC-TV18’s Sapna Das for more details.
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