Modi government exceeds disinvestment target for the second time in a row, completes first-ever sale of ‘enemy shares’
Op IndiaThe sale of ‘enemy shares’ and the buybacks of Central Public Sector Enterprises have together generated a sum of Rs 11,300 crore for the government, thus helping the exchequer mop up Rs 85,000 crore from disinvestment in the current financial year. After the Cabinet’s go-ahead to the Department of Investment and Public Asset Management to sell such shares held in companies, in November 2018, the government has, through the first-ever sale of ‘enemy shares’, collected an amount of Rs 700 crore. In the fiscal year 2018-19, the government for the second time in a row exceeded the disinvestment target by collecting Rs 85,000 crore as against the budget estimate of Rs 80,000 crore. During the current financial year, the share sale through the Exchange Traded Funds has garnered the highest amount of Rs 45,729 crore, followed by Rs 14,500 crore acquired through government’s 52.63 per cent stake in REC by the state-owned Power Finance Corporation.