Higher non-tax revenues, including dividends from the Reserve Bank of India (RBI) and state-run banks, are expected to offset the revenue shortfall from disinvestments, prompting the government to revise downwards the FY24 fiscal deficit target to 5.8% of GDP.
The Union budget for FY24 had estimated raising ₹51,000 crore from the sale of the government’s shares in public sector companies.It is unlikely that any new big-ticket additions will be made to the divestment list for FY25
The Indian government has invited bids for the strategic sale of Indian Medicines Pharmaceutical Corporation Ltd (IMPCL), in which it holds a 98.11% stake. The remaining 1.89% is held by Kumaon Mandal Vikas Nigam Ltd (KMVNL). The government plans to disinvest its entire stake in IMPCL through strategic disinvestment with a transfer of management control. IMPCL is a profit-making organization that manufactures ayurvedic and unani medicines and supplies them to all states under the National Ayush Mission.
India has invited bids for
the privatisation of Indian Medicines Pharmaceutical
Corporation, the government said on Thursday. It plans to sells its 98.1% stake in the company that.