Budget 2012: Govt to raise Rs 30,000 crore from divestment in next financial year, says FM

NEW DELHI: The government will raise Rs 30,000 crore from divestment in the next financial year, Finance Minister Pranab Mukherjee said while presenting the Budget 2012-13.

He added that the government will continue to hold 51% stake in public sector companies.

The Economic Survey tabled on Thursday said that with lower-than-expected growth in revenue receipts, slowdown in industry, rising costs and additional expenditure on account of stickiness in high global commodity prices, there has been slippages in the government finances.

"Besides, the financial market conditions were not appropriate for going ahead with the scheduled disinvestment plan. As such, a slippage on the targets of the deficit indicators is likely though efforts are afoot to minimise them," it said.