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The latest review of the divestment process is spurred by the delay in privatisation bids as the strategic sale process remains time-consuming, and many factors - including market conditions and litigation resorted to by stakeholders - are beyond the government's control, said another official.
India Business News: India will struggle to raise even half the proceeds it had targeted from planned sales of state-run firms this year and will miss divestment targets f
India may fall short of its divestment goal by Rs 30,000 crore in 2023/24, according to government sources. The government had targeted Rs 51,000 crore from divestment proceeds for the current fiscal year ending March 2024. The sale of NMDC Steel is set to end this year due to state elections and federal elections next summer.
The government is mulling to sell some of its stake in state-owned Indian Railway Finance Corp (IRFC) through an offer for sale (OFS) in the current fiscal, the report says