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Budget likely to scale down disinvst target: ASSOCHAM

ASSOCHAM

New Delhi : With disinvestment targets completely dimming of prospects with the current financial year and the markets expected to stay in subdued mood even in the next fiscal, the government is likely to scale down targets for realization of resources from PSUs’ stake sale in the Budget for 2016-17, ASSOCHAM said today.

“It is given that with just about a month to go for the Budget presentation and the window of opportunity having been missed earlier in the year, there is no hope that the over-optimistic target of Rs. 69,500 for the current financial year could be reached,” ASSOCHAM Paper on Budget expectations stated.

It said the disinvestment targets have always been off the mark with either the government doing a mere academic budget making exercise or getting it completely wrong.

“With the odds stacked against the equity market in 2016 and the world economic prospects looking even grimmer, there is less hope of a recovery in the financial markets. Thus, it is expected that next Budget would be much more realistic in getting the Revenue Budget right,” said ASSOCHAM Secretary General D S Rawat.

“Bulk of the windfall has been retained by the government. While it is debatable whether it has been the right or wrong strategy, the oil prices cut has certainly helped the Finance Ministry to come closer to the fiscal deficit target for the year,” added D S Rawat. (ANI)

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