Difficult to project FY26 disinvestment mop-up at the moment: MoS for finance
The government on Monday said it is 'difficult' to anticipate the precise amount of its disinvestment proceeds this fiscal, as the process hinges on a number of factors, such as administrative feasibility, market conditions, economic outlook and investor interest.
In a written reply in the Lok Sabha, minister of state for finance Pankaj Chaudhary said the FY26 budget estimate of Rs 47,000 crore under miscellaneous capital receipts indicates total mop-up from the government's management of equity investments and public assets through various mechanisms, and not just disinvestment.
Chaudhary also said the strategic sale process of IDBI Bank with management control transfer is in progress. For other state-run firms and banks, disinvestment through minority stake sale is carried out via methods approved by capital markets regulator Sebi from time to time.These methods are based on prevailing market conditions 'in order to unlock the value, promote public ownership and meet the minimum public shareholding to ensure higher degree of accountability'.'Profit or loss no criterion in divestment'
The minister also said the profitability or loss of a state-run company is 'not among the relevant criteria' for its privatization or strategic disinvestment.He said, 'The policy on strategic disinvestment/privatization is based on the economic principle that government should minimize presence in sectors, where competitive private sector has come of age and economic potential of such entities may be better discovered in the hands of strategic investor due to various factors such as infusion of capital, technological upgrade, efficient management practices, etc.'
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India.com
27 minutes ago
- India.com
Reminds Me Of India-Pakistan Conflict': Donald Trump Claims Mediation Efforts In Thailand-Cambodia Clashes, Says He Spoke To Top Leaders
Thailand-Cambodia Conflict: United States President Donald Trump stated on Saturday (IST) that he had spoken with the leaders of Thailand and Cambodia to broker a ceasefire and end hostilities between the two nations. He drew a comparison to the India-Pakistan clashes that occurred in May. POTUS, in a series of posts on his Truth Social handle, said that he spoke with the Prime Minister of Cambodia, Hun Manet, and the acting PM of Thailand, Phumtham Wechayachai. He also added that both nations are looking for an immediate ceasefire and peace and have agreed to immediately meet. "Just spoke to the Prime Minister of Cambodia relative to stopping the War with Thailand. I am calling the Acting Prime Minister of Thailand, right now, to likewise request a Ceasefire, and END to the War, which is currently raging. We happen to be, by coincidence, currently dealing on Trade with both Countries, but do not want to make any Deal, with either Country, if they are fighting — And I have told them so!' his post read. 'The call with Thailand is being made momentarily. The call with Cambodia has ended, but expect to call back regarding War stoppage and Ceasefire based on what Thailand has to say. I am trying to simplify a complex situation! Many people are being killed in this War, but it very much reminds me of the Conflict between Pakistan and India, which was brought to a successful halt," he added in the post. I have just spoken to the Acting Prime Minister of Thailand, and it was a very good conversation. Thailand, like Cambodia, wants to have an immediate Ceasefire, and PEACE. I am now going to relay that message back to the Prime Minister of Cambodia. After speaking to both Parties, Ceasefire, Peace, and Prosperity seems to be a natural. We will soon see! "I just had a very good call with the Prime Minister of Cambodia, and informed him of my discussions with Thailand, and its Acting Prime Minister. Both Parties are looking for an immediate Ceasefire and Peace. They are also looking to get back to the 'Trading Table' with the United States, which we think is inappropriate to do until such time as the fighting STOPS,' he also wrote. 'They have agreed to immediately meet and quickly work out a Ceasefire and, ultimately, PEACE! It was an Honor to deal with both Countries. They have a long and storied History and Culture. They will hopefully get along for many years to come. When all is done, and Peace is at hand, I look forward to concluding our Trading Agreements with both!' his post added. Meanwhile, according to ANI, local media reported that at least 14 Thais have been killed while over 100,000 people have fled amid escalating border clashes between Thailand and Cambodia. Furthermore, Bangkok Post cited the Thai interior ministry as saying that over 100,000 people from four border provinces of the country had been moved to nearly 300 temporary shelters, while the kingdom's health ministry announced that the death toll had risen to 14- thirteen civilians and one soldier. Thailand's Royal Army has denied reports from Cambodia that it targeted an ancient Hindu Temple in the Cambodian province of Preah Vihear, which has been listed as a UNESCO World Heritage site. Thailand and Cambodia have frequently clashed over their shared land border, a dispute that reportedly remains unresolved due to competing territorial claims dating back to the French colonial era.
Indian Express
27 minutes ago
- Indian Express
Gujarat CM inaugurates projects worth Rs 73 crore; hails Surat for acing Super Swachh League
To mark Urban Development Year 2025, Chief Minister Bhupendra Patel inaugurated various projects worth an estimated Rs 73.01 crore in different zones and laid the foundation stone for projects worth around Rs 362.45 crore, in Surat on Saturday. With Surat city acing the Super Swachh League as the cleanest city in India, CM Patel congratulated the sanitation workers. On the occasion, Union Minister for Jal Shakti C R Paatil said, 'Surat city is marching ahead and is a source of inspiration for other cities in the country.' Congratulating the sanitation workers along with officers and employees of the civic body, he appealed to the citizens to continuously maintain the achievements made in the field of cleanliness. The Union minister said, 'Surat has done good work in rainwater harvesting with the people of the community and Rajasthani businessmen playing an important role in Jan Sanchay Jan Bhagidari (JSJB). Under the rainwater harvesting initiative, a total of 32 lakh structures have been constructed across 33 states and 611 districts in India. Under Jal Sanchay Jan Bhagidari-2, which started on June 1 this year, Gujarat stood in first position, while in Jal Sanchay Jan Bhagidari-1, it clinched the 6th position. In the JSJB-1, Banaskantha, which falls within the dark zone and is a dry area, has worked exponentially well. With the help of Banas Dairy Chairman Shanker Chaudhary, over 27,000 structures for Jal Sanchay were made in the district. Farmers paid 50%, and the remaining one was paid by Banas dairy in JSJB-1.' CM Patel has allocated a budget of Rs 50 lakh to the MLAs to accelerate the water conservation campaign launched under the leadership of Prime Minister Narendra Modi, Paatil said. Addressing the gathering, CM Patel said, 'Suraksha and salamati paya ni pehli sharat chhe (Safety and security are the first basic conditions). PM Modi has given top priority to the country's security and the safety of its people.' He said, 'Under the leadership of PM Modi, the Indian Army has achieved resounding success in terms of surgical strikes, air strikes and recently, Operation Sindoor.' Keeping in mind the vision of PM Modi's Developed India-2047, he said, 'To raise the standards of ease of living in Surat, the foundation stone and inauguration of different development projects were done in Surat today. SMC is constantly striving to provide excellent infrastructure and basic facilities to the citizens. As part of the development works, tree plantation has been undertaken under the Ek Ped Ma Ke Naam Abhiyan to preserve the environment. The Catch the Rain Abhiyan has been undertaken to prevent water problems in the future.' He said, 'Surat has the longest BRTS corridor in India, measuring 108 km. Under this, it is the first city in India to operate 100% electric buses. The participation of every citizen of Gujarat is necessary to develop Surat as a growth hub and become a world-class city.' The programme also included the launch of the logo for the Surat Gender and Inclusion Lab under the Sustainable Urban Mobility — Air Quality, Climate Action, and Accessibility (SUM-ACA) project with GIZ-Germany. Besides, three digital tools – E-Bus Planning and Optimization Tool, E-Bus Scheduling Tool, and Bus Key Performance Indicator Dashboard Tool – were launched. They have been developed in collaboration with GIZ-Germany to make the public transport service of Surat Municipal Corporation (SMC) effective. At the event, two films narrating the development and growth story of Surat were screened. At the event, CM Patel also watched a performance put together by the students of the AI (Artificial Intelligence) Lab at Suman School, which the Surat civic body runs. Besides, he conducted a computerised draw system of 1,494 houses under Pradhan Mantri Awas Yojna at Bhestan, Palanpur and Bhesan, from Sanjiv Kumar Auditorium in Surat.
Mint
27 minutes ago
- Mint
‘Repeatedly insults OBC': BJP mocks Congress after Udit Raj calls Rahul Gandhi ‘second Ambedkar'
In a sharp criticism of the Congress party, BJP national spokesperson Gaurav Bhatia on Saturday accused the grand old party of repeatedly insulting the other backward classes (OBC) community, including Prime Minister Narendra Modi, who belongs to the same community. 'The most corrupt party held a conference on the OBC society yesterday. Rahul Gandhi himself has always insulted the OBC community and the Prime Minister, who comes from the OBC community. There are many serious charges against him, including corruption, and he is out on bail,' news agency ANI quoted Bhatia as saying. He also questioned the Congress leader's praise for leaders like Karnataka Chief Minister Siddaramaiah and former Chhattisgarh Chief Minister Bhupesh Baghel, both of whom he said are facing corruption allegations. "Rahul Gandhi said that your ideals are sitting here. According to Rahul Gandhi, that ideal is Siddaramaiah, who is accused of the Muda scam. Bhupesh Baghel and his son are accused of many scams... The government has resolved to make the country corruption-free, but Rahul Gandhi says that those who are corrupt have the qualities to become leaders," Bhatia added. Congress leader Udit Raj on Saturday said that Rahul Gandhi will prove to be the 'second Ambedkar' for the OBCs if they listen to what he said during the 'Bhagidari Nyay Sammelan'. Raj compared Rahul to Babasaheb Ambedkar and said that the OBCs must support the statements made by the Leader of Opposition. "Caste census in Telangana is an X-ray of society. Rahul Gandhi aims to replicate it nationwide. His views are visionary. If Dalits and backward classes come forward, our economy will boost. The inequality that prevails in society will be reduced. If OBC understands what Rahul Gandhi said, he will prove to be the second Ambedkar for them," Raj told ANI. "OBCs will have to think that history does not give opportunities for progress again and again. They should follow and support what Rahul Gandhi said in the Talkatora Stadium conference. If they do so, then Rahul Gandhi will prove to be the second Ambedkar for them," Raj posted on X. Senior BJP leader and MP Ravi Shankar Prasad on Saturday also hit out at Rahul Gandhi, accusing him of abandoning political decorum and showing frustration at PM Modi's rise from humble beginnings to global leadership, as reported by ANI. Prasad said, "Their leader, Rahul Gandhi, has forgotten decency. There is a frustration that a leader born in a poor, backwards family has become the leader of the world today." The BJP leader further claimed that the Congress party is 'frustrated' by the fact that PM Modi 'has outnumbered the days of Indira Gandhi as PM', adding that Congress is uncomfortable with India's increasing global influence. Congress had on Friday organised the 'Bhagidari Nyay Sammelan', which was inaugurated by party president Mallikarjun Kharge. The concluding address of the event was delivered by Leader of Opposition in the Lok Sabha Rahul Gandhi, the ANI report said. During this address, the Congress leader admitted that not conducting a caste census during the UPA government was a mistake and said he is now determined to correct it. Rahul said he had failed to understand the issues of the OBC community earlier, unlike those of Dalits, tribals, and women, where he claimed the Congress had done commendable work. 'I think about my work, where I did well and where I fell short, and I see two to three things. Land Acquisition Bill, MNREGA, Right to Food, Tribal Bill, and Niyamgiri struggle – all these things I did well. As far as the issues of tribals, Dalits, and women are concerned, I should get good marks there. I did good work,' he said.
