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Indian budget: Emphasis on asset monetisation
In the upcoming full budget presentation this July, the Indian government plans to continue its recent approach introduced in February's interim budget by eschewing specific disinvestment targets. Instead, disinvestment proceeds will be categorized under capital receipts, aligning with earlier practices this year. The shift is a strategy from target-driven to value-oriented disinvestment. Historically, the term 'disinvestment' first appeared in union budget documents in 1991-92 with a target of approximately $302 million at current exchange rates. By fy21, this figure had surged to around $25.3 billion, encompassing sales of government stakes in central public sector undertakings, public sector banks, and financial institutions.
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