All pre-Covid Budgets across the world have gone topsy-turvy. The Coronavirus pandemic is an unprecedented event. Things changed beyond anybody’s comprehension. Nobody anticipated that there could be a lockdown and people would not be able to travel for months together. Therefore, talking of a February budget under these extra-ordinary and uncertain circumstances may not be appropriate. We have to see going forward what we can do.
What is the realistic target now?
There is no specific number as on date, because our effort has been to look at what we can do during and post-Covid. So, we should do whatever best we can. If you get fixated with target numbers, then you need to factor in the several lost months.
The issue is what we can do, and what we have been able to do. In July, because the debt market was doing well, while the equity market had crashed, we raised more than ₹10,000 crore through Bharat Bond ETF for CPSEs. It gave a fillip to capex proposals of CPSEs. We encouraged them to go to the market and raise bonds. They are well on course, trying to do their own capex, which is an important means of reviving the economy. When private sector appetite is not so good, because of these efforts, public investments have been accelerated. But because these funds were garnered through these bonds, they will not show up in disinvestment receipts. You need to look at DIPAM not merely from the disinvestment angle. We are actually into capital management of CPSEs.
Denne historien er fra December 13, 2020-utgaven av Business Today.
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Denne historien er fra December 13, 2020-utgaven av Business Today.
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