In February 2020, the government had announced an ambitious Rs 2.1 trillion goal for the sale of government holding in state-run companies. The disinvestment target for FY21 included a Rs 90,000 crore to be raised from an initial public offer in Life Insurance Corp (LIC) and a stake sale in IDBI Bank.

DIPAM Secretary Tuhin Kanta Pandey, while speaking exclusively to CNBC-TV18's Sapna Das, shared his views on the government's divestment plans.

Pandey said, "COVID has been a major challenge for the economy as a whole as well as for disinvestment and capital management of our enterprises. Within these circumstances also in July we came out with Bharat Bond ETF which was hugely successful."

He added, "Strategic disinvestment going forward will be number one point in our strategy because that is where we think that the Prime Minister's vision of freeing the economy and having growth etc, that will be achieved in a much more focused manner."

Watch the video for more.