Business · India Bureau
India nears disinvestment target after IDBI Bank sale
The Indian government has raised 62,124 crore rupees through disinvestment and asset monetization by September 10, leaving a shortfall of just 17,876 crore rupees from its budgeted target for the financial year.
LSN India ·
India's disinvestment programme is on track to meet its annual target following the sale of IDBI Bank, marking a significant milestone for the government's privatization efforts. Official data shows that as of September 10, the government has successfully mobilized 62,124 crore rupees through asset sales and monetization initiatives, bringing it within striking distance of its full-year objective.
The shortfall of 17,876 crore rupees represents less than 22 percent of the budgeted target, indicating strong progress in the first half of the financial year. The IDBI Bank disinvestment has provided crucial momentum to the government's broader strategy of unlocking capital from public sector enterprises and non-core assets.
The disinvestment programme forms a key pillar of India's fiscal strategy, enabling the government to finance its budgetary commitments while improving operational efficiency in key sectors. The sale of IDBI Bank, one of the country's major public sector lenders, demonstrates the government's commitment to completing significant privatization transactions.
With nearly five months remaining in the financial year, government officials expressed confidence in achieving the full disinvestment target through additional asset monetization initiatives and pending transactions in the pipeline.