Budget 2023: To prepare the biggest disinvestment target so far, the target can be up to three lakh crore rupees
It will be the responsibility of the government to keep the target of disinvestment up to three lakh crores in the coming financial year so that the fiscal deficit can be kept under control. According to SBI ECoRAP estimates, the government’s expenditure in FY 2023-22 can be up to 35.7 lakh crores.
The government, which is facing economic crisis due to Corona epidemic, may set its biggest disinvestment target in the upcoming budget. The target of disinvestment for the coming financial year can be up to three lakh crores. The government had set a disinvestment target of Rs 2.1 lakh crore for the current financial year 2023-21, but so far only six percent of the target has been achieved.
According to sources in the ministry, the government will be obliged to keep the disinvestment target at Rs 3 lakh crore in the coming financial year, so as to keep the fiscal deficit under control. As per SBI ECoRAP estimates, in FY 2023-22, the government’s expenditure could be up to 35.7 lakh crore while the government’s revenue could be up to 24.1 lakh crore. The gap is 11.17 lakh crore which can be up to 5.2 percent of the gross domestic product (GDP).If the successful disinvestment target is achieved then this gap can be reduced. However, even in FY 2023-20, the government could not achieve the disinvestment target. The budget announcement for the last financial year set a target of disinvestment of Rs 1.05 lakh crore, which was reduced to 65,000 crore.
According to the Department of Investment and Public Asset Management (Deepam) of the Finance Ministry, disinvestment of Rs 12,450.24 crore has been carried forward so far in the current financial year. According to Deepam, the strategic sales process of companies like Air India, BEML, National Chemicals and Fertilizers, Shipping Corporation has started.
Disinvestment so far this year
BDL (OFS): 771.46 Crore
HAL (OFS): 4924.23 Crore
MDL (IPO): 442.79 Crore
IRCTC (OFS): 4473.16 Crore
IRCTC Supply Office: 0.76 Crore
Other: 1837.84 Crore