Selloff target proves elusive

Selloff target proves elusive

The Telegraph

A flurry of last-minute selloffs was not enough for the Centre to meet its revised divestment target of Rs 65,000 crore for the current fiscal.

NTPC on Friday acquired the government's stake in two hydroelectric companies - THDC India and North Eastern Electric Power Corporation Ltd (Neepco) - for Rs 11,500 crore, while Chennai Port Trust acquired the government's stake in Kamarajar Port for Rs 2,383 crore. Following the strategic sale of these units, the government has garnered Rs 48,728 crore under stake sales, way short of the revised target of Rs 65,000 crore announced by finance minister Nirmala Sithraman while presenting the budget in February.

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