Mumbai: The government expects to raise around Rs 12000 crore by selling a 9.5 per cent stake in state power utility NTPC Ltd in a share auction on February 7, Disinvestment Secretary Ravi Mathur said.
The floor price for the offer will be announced on Wednesday, he said.
Share sales in state companies has been a key element of the government's plan to bring down its fiscal deficit to 5.3 per cent of gross domestic product by March-end to avoid a credit downgrade from global ratings agencies.
The government expects to sell shares in four other state companies before March-end, Mathur told reporters.
The government aims to raise $5.6 billion by selling shares in the 2012/13 fiscal year to March. Last week, it raised $585 million through a 10 per cent stake sale in state explorer Oil India Ltd.
It expects to sell shares in four other state companies before March-end, Mathur told reporters.
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A budget deficit occurs when an entity spends more money than it takes in. The opposite of a budget deficit is a budget surplus. Debt is essentially an accumulated flow of deficits. In other words, a deficit is a flow, and debt is a stock.
An ...
Disinvestment, sometimes referred to as divestment, refers to the use of a concerted economic boycott, with specific emphasis on liquidating stock, to pressure a government, industry, or company towards a change in policy, or in the case of go ...
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