Disinvestment target likely to be revised upward

With stock markets on an upturn and Sebi pushing for minimum 25 per cent public holding in PSUs, the disinvestment department is likely to revise upwards the Rs 51,925 crore PSU stake sale target in the current fiscal.

Sources said the new government is eyeing higher funds from PSU stake sales. The final budget for 2014-15 fiscal would be presented on July 10.

There will be some companies which will be fast tracked for stake sale in the current fiscal in view of 25 per cent public holding norm, sources said.

The stock market barometer BSE Sensex has rallied over 13 per cent so far this financial year. 

Sources said the PSUs shares are trading at good valuations and a divestment now would help garner more funds.

The deficit was 4.5 per cent of GDP in 2013-14 fiscal and is to be brought down to 4.1 per cent in current fiscal.