Finance Minister Nirmala Sitharaman in the Union Budget 2022-23 announced a Rs 65,000 crore disinvestment target for the year. Explaining the reason behind a conservative disinvestment target, the finance minister in an exclusive interview with Rahul Joshi, Editor-in-Chief of Network18 said that many factors determine the disinvestment targets.

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"It is a question of recognizing disinvestment will have to happen with all the process and also the question of timing your disinvestment," the FM said.

Sitharaman said that during COVID, the stock market was performing very well, but it is not just the stock market that decides on a public asset to be disinvested. “There are so many other factors. I have to take everybody on board and move,” she said.

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“It involves a lot of working together and taking a lot of people together and moving forward. So naturally, it does consume time,” the FM added.

Stating that she is committed to the disinvestment plan, the finance minister confirmed the LIC IPO will be completed this year itself.

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(Edited by : Priyanka Deshpande)

First Published:Feb 2, 2022 6:41 PM IST