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Business News/ Politics / Policy/ FY14 divestment programme will be fully met: Mayaram

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FY14 divestment programme will be fully met: Mayaram

1 min read 28 Nov 2013, 10:46 AM IST Reuters

India has so far managed to raise only around $230 million by selling stakes in state-owned oil companies

The govt’s Rs40,000 crore programme for the current fiscal year ending in March 2014 will be fully met, says Mayaram. Photo: Mint

Mumbai: The government’s Rs40,000 crore programme for the current fiscal year ending in March 2014 will be fully met, economic affairs secretary Arvind Mayaram told Reuters in the sidelines of a conference on Thursday.

India has so far managed to raise only around $230 million by selling stakes in state-owned oil companies, as ministries squabble over the timing of the issues and as the rupee fell against the dollar.

Investors have raised worries the government will fail to meet its fiscal deficit target unless it cuts spending given the decline in revenues.

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