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Double The Target In Half The Time? Divestment Under NDA Twice That Of UPA, Says DIPAM
Finance Minsiter, Arun Jaitley. (Sonu Mehta/Hindustan Times via Getty Images)
According to the data released by DIPAM, 58 per cent of the total divestment proceeds since the liberalisation of 1991, were earned under the present NDA government, as reported by The Hindu. Department of Investment Promotion and Management (DIPAM) works under the Union Ministry of Finance and is tasked with overseeing the divestment of the Central Public Sector Units (CPSUs).
Out of the Rs 3.63 lakh crore earned by various governments since 1991 as part of their divestment agenda, Rs 2.1 lakh crore came in the last four years under the PM Modi government. This represents more than twice the divestment target achieved under the successive UPA governments spread over ten years.
In FY18, the government earned a record Rs. 92,000 crores, exceeding its disinvestment target. In the budget presented on 1 February 2018, though Finance Minister set a conservative goal of Rs. 80,000 crores for FY19 (ending on March 2019), it is expected to raise a record Rs, 1 lakh crores. In FY17, the divestment proceeds were Rs. 46,247 crores.
The current government has also completed 75 deals when compared to the 33 settlements under the second UPA rule.
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