Govt plans to push fund raising to tackle budget deficit

The government is considering steps to speed up its fund raising plans to tackle budget defict, reports CNBC-TV18's Anshu Sharma.

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Sources in the government have said that the Cabinet Committee on Economic Affairs will be meeting on Monday and the mines ministry has already moved the note on residual stake sale of Hindustan Zinc (HZL). The government holds about 29.5 percent stake in HZL and it expects to raise about Rs 20,000 crore though the method of this stake sale will be decided by the Department of Disinvestment.

It is also understood that the CCEA note on Balco stake sale has been sent to the Prime Ministers Office for consideration and it will be moved very soon. Again the government here expects to garner about Rs 2500-3000 crore from the residual stake sale.