Disinvestment deals matter, not targets: DIPAM Secretary
The Hindu
We should concentrate on making the transactions happen, says Tuhin Kanta Pandey
The modest disinvestment receipts target of ₹65,000 crore set in the Budget for 2022-23, the lowest in six years, is not a reflection of the government slowing down on privatisation, but is based on “realism” and a focus on smooth execution of transactions instead of chasing a high number, a top Finance Ministry official said.
Tuhin Kanta Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM) in the Finance Ministry, told The Hindu, “We should concentrate on making the transactions happen. They cannot happen simply because of my wishes or my target,” adding that privatisation deals take a "longish" time to conclude through due process and resolution of multiple obstacles.
The government had estimated ₹1.75 lakh crore as disinvestment receipts in 2021-22, which has now been revised to ₹78,000 crore, while it raised just about ₹33,000 crore in the previous year against a stiff target of ₹2.10 lakh crore.
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