THE MINISTER OF STATE IN THE MINISTRY OF FINANCE (S.S.PALANIMANICKAM)
(a) & (b) The Budget Estimates, the Revised Estimates and the Actuals amount of disinvestment
during the last three years and for the current year (till date) are as under:
( in crore)
Year Budget Estimates Revised Estimates Actuals
2009-10 1,120 25,000.00 23,552.93
2010-11 40,000 22,144.79 22,144.22
2011-12 40,000 13,144.55 13,894.05
2012-13 30,000 - 931.99
(till date)
The disinvestment in Bharat Heavy Electricals Ltd., Steel Authority of India Ltd., Rashtriya
Ispat Nigam Ltd. and National Aluminium Company Ltd. could not be completed as per plan due to
volatility in the capital market and as appropriate valuation was not realizable.
The above disinvestment proceeds were used for funding the capital expenditure in social sector
schemes identified by Planning Commission and Department of Expenditure.
(c) As per procedure, in each case, Inter-Ministerial Consultations are held before placing
the matter to the Cabinet Committee on Economic Affairs for approval of disinvestment taking
into consideration the views of other departments including the Administrative Ministry concerned
with the Public Sector Undertakings (PSUs). The process of disinvestment is overseen and guided
by an Inter-Ministerial Group constituted in each case with representatives from various
departments including the Administrative Ministry concerned and the concerned PSU.
(d) The budgetary target for the year 2012-13 is `30,000 crore. No target set for the next
three years. The proceeds would be used for funding the capital expenditure in social sector
schemes identified by Planning Commission and Department of Expenditure.
(e) Disinvestment proposals in some more PSUs have been taken up for Government approval
for achieving the target. The interest of the employees is not affected as only minority stake
is being disinvested.
