In the Union Budget 2015-16 the Finance Minister Arun Jaitley announced a divestment target of Rs 69500 crore, higher than the previous fiscal's target of Rs 58,425 crore. Speaking to CNBC-TV18, Revenue Secretary Shaktikanta Das said the target looks realistic.
In the Union Budget 2015-16 the Finance Minister Arun Jaitley announced a divestment target of Rs 69500 crore, higher than the previous fiscal's target of Rs 58,425 crore. Speaking to CNBC-TV18, Revenue Secretary Shaktikanta Das said the target looks realistic. According to him, the revenue raised by the government via divestment in FY15 has been largest in past many years and there is a scope to better that target.
Das believes the only downside risk to this target may be any international turmoil or poor growth numbers. "We are reasonably confident that they will materialise this year but can't assure for next year," he added.
Adding to the discussion, Oil Secretary Saurabh Chandra said the fuel subsidy figure of Rs 30,000 crore for FY16 is manageable. The computerisation of distribution system will bring leakage in subsidy down, he added. He also said that decision on ONGC divestment will come once upstream contribution data come is received.
Ratan Watal, Secretary, Dept of Expenditure also contributed to the discussion.
For entire discussion, watch accompanying videos.
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