The government has set a disinvestment target of Rs30,000 crore in 2012-13 from stake sales in public sector undertakings. It missed its divestment proceeds target for the current fiscal that ends this month by a wide margin.
"In 2011-12, as against a target of Rs40,000 crore, the government will raise about Rs14,000 crore from disinvestment. For 2012-13, I propose to raise Rs30,000 crore through disinvestment," finance minister Pranab Mukherjee said in his budget speech to Parliament.
He said the government is committed to maintaining at least 51 per cent ownership and management control in central public sector enterprises (CPSEs).
"While we are committed to enhancing people's ownership of CPSEs, at least 51 per cent ownership and management control will remain with the government," he said.
The CPSEs are being given a level playing field with the private sector with regard to practices like buy-backs and listing on bourses, he said.