The disinvestment target will be missed for the fifth year in a row

-


Companies will not be privatized before elections

NEW DELHI: India is unlikely to be able to raise half of its target revenue from the planned sale of state-owned companies in the current fiscal year. According to a news agency report, the country will miss the disinvestment target for the fifth year in a row. The main reason behind this is that elections change the priorities of the government.

It is worth mentioning that Lok Sabha elections are going to be held in the country in 2024. It's only a few months away. Meanwhile, two government sources said the government has set its disinvestment target for 2023-24 at Rs. 30,000 crore ($3.60 billion) could be missed. For the current financial year ending March 2024, India has disinvested Rs. 51,000 crore was targeted. In FY23-24, sale of stake in IDBI Bank and privatization of state-owned NMDC Steel raised Rs. 51,000 crore target, about Rs. 30,000 crore was expected to be collected. However, the delay in vetting interested buyers for the game by the Reserve Bank has pushed the sale timeline further.

The sale of NMDC Steel will not be completed this year due to state assembly elections and Lok Sabha elections next summer. The company's main plant is in the mineral-rich state of Chhattisgarh, and unions here have opposed the sale.

While India may still achieve some small disinvestments in the current fiscal year, it will still be less than half of its total target.

Since 2019, the government has been unable to implement plans to sell off companies in several sectors including steel, fertilizers and oil and gas due to issues such as land and union opposition.

According to government data, the government has received Rs 8,000 crore from stake sales so far this year. Some of the shortfall in the current year's target will be offset by higher dividends paid by state-owned companies to the government. State-owned companies are paying higher dividends due to strong profits and stable demand. The government will spend its Rs. 43,000 crore is expected to exceed the dividend target and so far from government companies Rs. 20,300 crores have been obtained.

The delay in privatization will not affect the government's fiscal deficit target of 5.9% of gross domestic product (GDP).

Despite Indian markets hitting record highs this year, the government has been successful only through so-called offers through stock exchanges to sell minority stakes in five of its companies.


Comments

Post a Comment

Popular posts from this blog

Due to the ban, employment and economic activity declined by two to three percent

-
Image
New delhi date. October 7, 2019, Monday A new study has found that employment and economic activity have declined by two to three percent due to the ban. A similar situation has been observed in bank lending. The study found the decline to occur within two months of the notation announced on November 7. This is the first research on demineralization in which data on the effects of districts across India were collected. In addition to the districts, the effect of national level was also studied. Previous studies only examined the national level effect of demonitization. Thus, a full estimate of the overall effect is not known. As a result of the shortage of cash arising out of the blockade, the country's economic activity fell by approximately 8 percent in November-December 2 In the October-December period, bank credit has seen an impact of around two per cent. Cash pulls have impacted demand for a short period. The study found that there was a strong link between money and pro...
Read more

Information about soymilk and casein products

-
Image
- Industrial guidance - Dhiru Parekh Soymilk: Soybeans are converted to high-quality protein. So that high quality drinks can be made which can be easily digested. There is no difference between soymilk and cow's milk. So the conservative industries of milk processing are now using this milk to make yogurt and ice cream. Consumers also cannot tell the difference between ice cream made from cow's milk and from soy milk. Also, the production capacity of soy milk can be increased than that of cow's milk. And the price can be cheaper. Soybeans mainly contain two types of enzymes that are inactivated in the soymilk process. Leukoxidase that catalyzes the oxidation of fatty acids. And enzymes like pepsin, trypepsin are included in it. Which helps in digesting protein. Soyamilk powder manufacturing process: This is an electric pre-heater system. which basically allows fluid to flow easily in a stationless tube under low-voltages. which absorbs the energy flowing through the Ja...
Read more

The brokerage firm objected to SEBI's new proposal regarding Algo Trading

-
Image
MUMBAI: Brokerage firms and fintech companies have objected to market regulator SEBI's discussion paper considering all stock trading orders issued through Application Programming Interface (API) as separate trading, saying it could adversely affect the growth of such trading from India. Algo trading is considered to be an automatic buying-selling system based on algorithms. SEBI has recently said in a discussion paper that it would create a framework for regulating Algo trading by retail investors. A senior official of a brokerage firm said that monitoring of Algo trading is a need of the hour, but such an attempt could hamper the growth of Sebi Algo trading. He added that if the suggestions made in the SEBI discussion paper were implemented, it would be difficult for brokers to make the API available. About 70% of the daily trading volume in Indian stock markets is transacted through advanced forms of algo trading. Algo Trading came to India in the year 2006, but then only se...
Read more