Govt optimistic about overshooting Rs.45,500 cr divestment target
The Dollar Business Bureau The current fiscal's divestment target of Rs 45,500 crore is likely to be overshot due to strong equity markets. In alignment with PM Narendra Modi's motto of 'less government, more governance', the finance ministry has recently approved stake sale in two more PSUs. A good response to the most recent divestment proposals has emboldened the Centre's hopes of surpassing the set target for revenue from divestments by a few thousand crores. Gains from a better performing stock market have also translated into higher prices for the government's divestment bids. So far, in the current fiscal, the government has sold stake in four PSUs via the Offer for Sale (OFS) route. In April 2016, a 11.36% stake ...
Focus on non-tax options for revenues: CII tells Govt
Sai Nikesh | The Dollar Business The Confederation of Indian Industry (CII) on Monday, while expressing hope that the government would focus on narrowing fiscal deficit in the upcoming budget for 2015-16, suggested the government to explore on implementing non-tax policies for achieving better revenues. Despite the revenue collections through huge taxes, the CII suggested that the government shall focus on non-tax options like increased disinvestments, effecting dilution of residual government shares in private companies as well as going ahead with sale of spectrum and mineral blocks, to garner revenues. The Confederation also suggested the strategic sale of loss-making Public Sector Units to raise revenues. The CII Director General Chandrajit Banerjee was quoted to have said the sources ...
