Finance minister Arun Jaitley in Union Budget 2015-16 has set a divestment target of Rs 70,000 crore for FY16. Divestment secretary Aradhana Johri says it is an ambitious target, but then again divestment revenue generated in FY15 so far is also the highest ever.
She is confident of getting approvals for divestment worth Rs 30,000 crore soon. On ONGC divestment, she will wait for all approvals before taking it to the market.
SUUTI valuation currently stands at around Rs 60,000 crore, she adds.
Meanwhile, financial services secretary Hasmukh Adhia says public sector banks (PSU) banks are not that worse off in terms of meeting capital adequacy ratio. It is meeting Basel norms, he says.
He adds that after so many years of nationalisation, the government cannot continue to put more and more equity. The government will have to find innovative ways of financing. The government will be reducing equity in these PSU banks to 52 percent, which will yield Rs 82,000 crore at current market value, he says.
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