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Govt. stake sales ramp up in FY14
Mar 22, 2014

The current government is intent on bringing the fiscal deficit for FY14 down to the targeted level of 4.6% of GDP. In this regard, the curbs on gold imports and subsequent reduction in demand has considerably eased off the pressure. Although this is hardly a popular move and quite unsustainable in the longer run. The other development that is expected to help the government is the ramp up in stake sales. While Suuti's stake sale in Axis Bank generated considerable interest, the other major success was the CPSE ETF. As reported in Business Standard, This raked in the targeted Rs 30 bn with its New Fund Offer (NFO) getting oversubscribed by more than 30%. The NFO saw bids of more than Rs 40 bn and about 20,000 retail applications. All in all, these stake sales have helped the government achieve its revised disinvestment target of Rs 160 bn for the year. It will be interesting to see what FY15 holds in store especially with a new government in power.

Data Source: Business Standard
*Axis Bank stake held by Suuti

This Chart Of The Day was published in The 5 Minute WrapUp - Will gold emerge the best asset class in 2014?

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