Know how the Modi Government replies to the critics on the economic front?
Saturday - March 23, 2019 1:32 pm ,
Category : WTN SPECIAL
The Modi Government succeeded in achieving Rs 5,000 crores more than the target of the disinvestment
The Modi Government achieves target of the disinvestment in the challenging situations and in market fluctuations
MAR 23 (WTN) - On the economic front, the Modi Government has achieved another success, and the government has given a similar reply to its critics in this way. According to the information, the Modi Government has achieved the disinvestment target due to its economic policies. According to Finance Minister Arun Jaitley, in the current financial year (2018-19), so far Rs 85,000 crore has been raised through disinvestment, which is more than Rs 5,000 crore more than the target.
For your information, let you know that the Modi Government has raised Rs 9,500 crore from the fifth installment of CPSE-ETF and Rs 14,500 crore through REC-PFC deal. By February 28, the Central Government had received Rs 56,473.32 crore from the disinvestment. In addition to the REC-PFC deal in March, besides the fifth installment of CPSE-ETF, the government had received Rs 1,000 crore from strategic sales in the Dredging Corporation. At the same time, about Rs 2,000 crore have been received from the sale of enemy shares. Not only this, the government has brought the IPO of Mazagon Dock and MSTC too this month.
Finance minister Arun Jaitley, close to Prime Minister Modi, writes in his tweet about the disinvestment, “We have achieved 85,000 crores this year, against the disinvestment target of Rs 80,000 crores. Compared to the budget target of Rs 72,500 crores in 2017-18, the disbursement of record Rs 1 lakh crore was received, and most of which was achieved by the acquisition of Hindustan Petroleum by ONGC."
But for your information, let you know that the rating agencies and many financial analysts expressed the possibility of deflecting the disinvestment target set for the current financial year, citing the challenging situation and current market fluctuations. At the same time, the rating agency Care Ratings, in its report, had only talked of getting Rs 60,000 crores through the disinvestment. But due to its planned economic policies, the Modi Government has acquired more money than the target of the disinvestment.
In this fiscal year, cognizant had suspicion on the target of the disinvestment set by the Modi Government, because the Modi Government was able to raise only 65 per cent of the revenue in the fiscal year from 2014 to 2017. In the year 2014, the government was able to raise just 53 per cent of the amount. However, in the financial year 2018, the government had raised a target of about Rs 1 lakh crores, against the target of Rs 72,500 crores.
Indeed, the beginning of the disinvestment has come out after the economic liberalization process, after which the government has started increasing the shares of private companies in loss-making companies. The process of the disinvestment is opposite to the investment process. The investment means investing in a business, institution or project, and disinvestment means the withdrawal of the investment amount invested in that. The process of selling the government stake in the government companies is called disinvestment.
MAR 23 (WTN) - On the economic front, the Modi Government has achieved another success, and the government has given a similar reply to its critics in this way. According to the information, the Modi Government has achieved the disinvestment target due to its economic policies. According to Finance Minister Arun Jaitley, in the current financial year (2018-19), so far Rs 85,000 crore has been raised through disinvestment, which is more than Rs 5,000 crore more than the target.
For your information, let you know that the Modi Government has raised Rs 9,500 crore from the fifth installment of CPSE-ETF and Rs 14,500 crore through REC-PFC deal. By February 28, the Central Government had received Rs 56,473.32 crore from the disinvestment. In addition to the REC-PFC deal in March, besides the fifth installment of CPSE-ETF, the government had received Rs 1,000 crore from strategic sales in the Dredging Corporation. At the same time, about Rs 2,000 crore have been received from the sale of enemy shares. Not only this, the government has brought the IPO of Mazagon Dock and MSTC too this month.
Finance minister Arun Jaitley, close to Prime Minister Modi, writes in his tweet about the disinvestment, “We have achieved 85,000 crores this year, against the disinvestment target of Rs 80,000 crores. Compared to the budget target of Rs 72,500 crores in 2017-18, the disbursement of record Rs 1 lakh crore was received, and most of which was achieved by the acquisition of Hindustan Petroleum by ONGC."
But for your information, let you know that the rating agencies and many financial analysts expressed the possibility of deflecting the disinvestment target set for the current financial year, citing the challenging situation and current market fluctuations. At the same time, the rating agency Care Ratings, in its report, had only talked of getting Rs 60,000 crores through the disinvestment. But due to its planned economic policies, the Modi Government has acquired more money than the target of the disinvestment.
In this fiscal year, cognizant had suspicion on the target of the disinvestment set by the Modi Government, because the Modi Government was able to raise only 65 per cent of the revenue in the fiscal year from 2014 to 2017. In the year 2014, the government was able to raise just 53 per cent of the amount. However, in the financial year 2018, the government had raised a target of about Rs 1 lakh crores, against the target of Rs 72,500 crores.
Indeed, the beginning of the disinvestment has come out after the economic liberalization process, after which the government has started increasing the shares of private companies in loss-making companies. The process of the disinvestment is opposite to the investment process. The investment means investing in a business, institution or project, and disinvestment means the withdrawal of the investment amount invested in that. The process of selling the government stake in the government companies is called disinvestment.
