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Rs 2.79 Lakh crore mopped up via divestment in 5 years

Rs 2.79 Lakh crore mopped up via divestment in 5 years
Highlights

Govt has a target to raise `1.05 lakh crore in the current financial year

New Delhi: The government raised Rs 2,79,622 crore from the disinvestment of public sector undertakings (PSUs) during 2014-19 compared to Rs 1,07,833 crore during the 10-year UPA rule from 2004-14, Union Minister Anurag Singh Thakur said on Tuesday.

Speaking during the Question Hour in the Rajya Sabha, the Minister of State for Finance said, "In five years, we raised double the amount.

This was done in an average 21 transactions each year, while it was four between 2004-2014." During 2014-19, a total amount of Rs 2,79,622 crore was realised from the disinvestment transaction using various modes, he said.

"If you compare it with 2004-14, which was 10 years period, through 40 transactions, only Rs 1,07,833 crore could be raised," Thakur said in the Upper House. For the current year, the target is to raise Rs 1.05 lakh crore. "We are trying our best to achieve this."

The Minister said that the government follows a policy of disinvestment through minority stake sale and strategic disinvestment.

So far, the government has given 'in-principal' approval for strategic disinvestment of 33 central public sector undertakings (CPSEs).

Think-tank Niti Aayog has been mandated to identify such PSUs based on the criteria of national security, sovereign functions at arm's length and market imperfections and public purpose.

In reply to a separate query, Thakur said the Insurance Regulatory and Development Authority of India (IRDAI) has cancelled recruitment exercise initiated in February 2018 due to administrative reason and therefore, there is no need for any enquiry.

The minister said the IRDAI had issued an advertisement for recruitment February 16, 2018. "During the recruitment process, it was found that the minimum experience criteria mentioned in the notification did not explicitly specify the sector or area of work in which work experience was required.

This led to some candidates without useful experience being considered for further stages of recruitment process," he said.

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