Development India Ltd News Today

The new government that is expected to be formed with the help of coalition partners may well have to walk a fine line when it comes to divesting government holdings in public sector enterprises.

The most talked about option is to deploy a part of the RBI's dividend to reduce the fiscal deficit to convey fiscal consolidation.

Higher non-tax revenues, including dividends from the Reserve Bank of India (RBI) and state-run banks, are expected to offset the revenue shortfall from disinvestments, prompting the government to revise downwards the FY24 fiscal deficit target to 5.8% of GDP.

The Union budget for FY24 had estimated raising ₹51,000 crore from the sale of the government’s shares in public sector companies.It is unlikely that any new big-ticket additions will be made to the divestment list for FY25

Until Sep, government could sell only 3% in Coal India and 5.36% in Rail Vikas Nigam Ltd

The Board of Directors of Prime Urban Development India Limited, at its meeting held today have approved the financial results of the company for the period ended March 31, 2023 - Q4FY23 and FY2023.

The government has set a lower disinvestment target for FY24 at ₹51,000 crore as compared with the previous financial year, while also lowering the revised estimates from FY23 to ₹50,000 crore from the earlier target of ₹65,000 crore, according to the budget documents issued on Wednesday

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