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Finance Minister Nirmala Sitharaman presented the budget to Parliament. During this time, the government aims to raise around Rs 2 lakh crore through investment by 2021-22, the finance minister said. In the current financial year, the government is far from investing.
In the current budget, the government has announced Rs 1.75 lakh crore from the investment sector. Which is about Rs 35,000 crore less than the target set last year. Investment in BPCL, Air India and SSCI are expected to be sealed in the next financial year.
The LIC’s IPO is planned to be introduced in the next financial year, the finance minister said. In addition, due to the enthusiasm in the stock market, it is expected to sell parts of the Central Public Sector through offers for sale. Other privatization agreements are expected to be completed by 2022.
In fact, the Covid 19 crisis has hampered investment. In the last budget for the fiscal year 2020-21, the government announced a recovery of Rs 2.1 lakh crore from the investment sector. It is estimated that between Rs 30,000 and Rs 40,000 crore can be raised by the government this year. This is the lowest in the previous five years.
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