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India’s fiscal deficit within the first seven months of the monetary yr ending on March 31, 2024 was Rs 8.04 lakh crore ($96.86 billion), or 45% of the estimate for the entire yr, in line with knowledge launched by the federal government final month.
Nevertheless, the federal government has collected solely Rs 10,050 crore from promoting stakes in government-run corporations as of Dec. 13, towards its full-year goal of Rs 51,000 crore, Karad informed lawmakers.
“It’s troublesome to anticipate the quantum of precise proceeds from divestment through the present monetary yr 2023-24,” as a result of stake gross sales rely upon components together with market circumstances and investor urge for food, Karad stated.
The Indian authorities might miss its stake sale goal for the fifth straight yr, and can wrestle to lift even half of the proceeds it had focused from deliberate gross sales of state-run corporations this yr, Reuters reported final month.
