Budget 2018: Modi govt targets disinvestment receipts of Rs 900 billion

Looking at Rs 1 trillion spending focus through disinvestment for next financial, the Modi government may end FY18 with Rs 900 billion selloff, double the record figure of Rs 460 billion accomplished a year ago, on the back of its stake deal in Hindustan Petroleum Corporation (HPCL) to Oil and Natural Gas Corporation (ONGC), as indicated by The Time of India report.

The arrangement is probably going to get the administration Rs 300 billion, the report said citing sources.

The offer of the administration's stake in HPCL toONGC is stuck on valuation. As indicated by people near the improvement, the exertion was to make it happen before the finish of this current month yet the legislature was taking a gander at getting a higher incentive for its 51.1 for every penny stake in HPCL.

In light of the present market capitalisation, a 51 for every penny in HPCL is esteemed at Rs 323 billion, about Rs 23 billion higher than in last July when the Union Cabinet had cleaned the offer up. Be that as it may, reports recommend that in the wake of assessing the promoting system, physical resources and brand estimation of HPCL, the valuation could associate with Rs 450 billion.The Cabinet Committee on Economic Affairs had given on a basic level endorsement for the vital deal on July 19 a year ago…Read More

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