(NDTV)
The government is likely to seek to raise about Rs. 80,000 crore ($11.21 billion) through the sale of state-owned assets in the next fiscal year, beginning April 1, two government sources with direct knowledge of Budget discussions told Reuters on Tuesday.
The target, which is the same as for the current financial year, includes proceeds from the expected privatisation of loss-making national carrier Air India, and the sale of an insurer to be created by the merger of three state-owned firms, the sources said. It will also involve the sale of units in an exchange traded fund consisting of minority stakes in about 20 state-owned companies, they said. Finance Minister Arun Jaitley, who is currently in the United States for a medical check-up, is expected to announce the target while presenting an interim budget on February 1, said one of the sources.
The government could also sell shares in a number of state-owned companies through initial public offerings, the sources said. Possible candidates for these include Telecommunications Consultants India, Indian Railways’ subsidiaries IRCTC, RailTel Corporation India and National Seeds Corporation (NSC), they added.
