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  • In recent years, the government has laid special emphasis on investment-led growth. Disinvestment has emerged as an important route for the government to generate funds. During 2017-18 and 2018-19, the government over achieved its disinvestment targets by 1.03 times which also helped to keep the fiscal deficit in check.

  • The Centre aims to achieve its disinvestment target of Rs 1.05 trillion for 2019-20, up from Rs 800 billion set for 2018-19. The Union Cabinet recently approved a new process of strategic disinvestment for expediting the disinvestment process and easing administrative procedures.

  • The government uses various formats for disinvestment - IPO, offer for sale, share buyback, strategic sale, and CPSE exchange-traded funds. Recently, fundraising was done through IPOs of IRCTC, RITES, Cochin Shipyard, etc. IPOs of RailTel Corporation of India Limited, IRFC and Telecommunications Consultants India Limited are also on the anvil.

  • Funds have also been raised via offer for sale of NTPC and Coal India, among others. Further, a number of strategic stake divestment deals have been struck. These include PFC's acquisition of REC, ONGC's acquisition of HPCL, stake sale in Dredging Corporation of India Limited, among others.

  • Going forward, the government has planned strategic disinvestments in BPCL, Shipping Corporation of India, CONCOR, THDC India Limited, North Eastern Electric Power Corporation, Kamarajar Port, Air India, etc.

  • In addition, the Centre aims to raise capex funding through the monetisation of public assets, given the rising interest of institutional investors in yield-generating stable assets such as NHAI's revenue operational highways, AAI's airports, Power Grid's transmission lines, and terminals at major ports. Meanwhile, the monetisation of land parcels of CPSEs is also a part of the disinvestment strategy.

  • The mission of this conference is to discuss the experience with disinvestment and the potential for public asset recycling, analyse the key challenges and explore the future opportunities for asset monetisation.
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