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Last Updated : Oct 26, 2018 03:46 PM IST | Source: Moneycontrol.com

Government confident of achieving disinvestment target of Rs 80,000 crore, says economic affairs secretary SC Garg

On importing oil from Iran, Garg said, the petroleum minister had clarified that the country will continue to buy the Iranian oil to some extent and the contracts have been done for November.

CNBC TV18 @moneycontrolcom

The government is confident of achieving the disinvestment target of Rs 80,000 crore by using different options including buyback depending upon the market conditions, said SC Garg, economic affairs secretary.

Buyback is also one of the ways in which the disinvestment target is met, said Garg, adding that as a policy, the government need to identify the right candidate and the right time to come up with this, that is what the disinvestment department would consider at an appropriate time.

In the Budget for 2018-19, finance minister Arun Jaitley had set a disinvestment target of Rs 80,000 crore.

On importing oil from Iran, Garg said, the petroleum minister had clarified that the country will continue to buy the Iranian oil to some extent and the contracts have been done for November.

"In the past six months, there has been a change in what we have been buying from Iran. It may not be the same but that does not matter," he said.

On import curbs, Garg said the government’s policy was enunciated by the finance minister very clearly.

On data localisation Garg said, “The Reserve Bank of India (RBI) is seized of the matter of data localisation norms. They will take a view on it."

The decision has to be made by the RBI, they will come up with the more appropriate decision, he added.

(Source: CNBC TV 18)
First Published on Oct 12, 2018 09:15 pm
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