New Delhi, Feb 2 (PTI) DIPAM Secretary Tuhin Kanta Pandey on Friday said the Rs 30,000 crore capital receipts target set in the Revised Estimates for the current fiscal include about Rs 20,000 crore from CPSE disinvestment and the remaining from asset monetisation.
Pandey, in an interview with PTI, said the government has reworked the heading of non-debt capital receipts provided in the Budget document. Non-debt capital receipts include loans and advances and other capital receipts, as against earlier classification of loans and advances, disinvestment and asset monetisation.
The government has budgeted Rs 30,000 crore from other capital receipts in the Revised Estimates for the current fiscal. For 2024-25, the amount is budgeted at Rs 50,000 crore.
Pandey said the Budget does not have any specific target for disinvestment for the next fiscal and the Rs 50,000 crore receipts is estimated to come from disinvestment and asset monetisation, as well as capital receipts, which are not classified elsewhere.
About the amount estimated to accrue from monetisation of assets of the central government in the current fiscal, Pandey said, “We have estimated Rs 10,000-12,000 crore in asset monetisation and Rs 18,000-20,000 crore from disinvestment in the Rs 30,000 crore RE.” The Department of Investment and Public Asset Management (DIPAM) secretary also said the government expects to complete the strategic sale of IDBI Bank in the next financial year.
He said the process of privatisation of IDBI Bank is on and once the regulator clearance is obtained, financial bids will be invited.
Asked if the strategic sale will be completed in the next fiscal, Pandey said, “Yes, of course”.
The government, along with LIC, is selling nearly 61 per cent stake in IDBI Bank and had in October 2022, invited bids from buyers.
In January 2023, DIPAM said it had received multiple Expressions of Interest (EoI) for buying a stake in IDBI Bank.
The bidders who have shown interest through EoI have to get two sets of clearances — one from the home ministry for security clearance and the other from the Reserve Bank of India (RBI) for meeting the ‘fit and proper’ criteria. PTI JD TRB
About the Author
