The government's Rs 40,000 crore divestment programme for the current fiscal year ending in March 2014 will be fully met, economic affairs secretary Arvind Mayaram told Reuters in the sidelines of a conference on Thursday.
India has so far managed to raise only around $230 million (around Rs 1400 crore) by selling stakes in state-owned oil companies, as ministries squabble over the timing of the issues and as the rupee fell against the dollar.
Investors have raised worries the government will fail to meet its fiscal deficit target unless it cuts spending given the decline in revenues.
($1 = 62.2460 rupees)
(Copyright Thomson Reuters 2013)
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