Action Plan of 2014-15 on Disinvestment; Coal India, ONGC and NHPC




Action Plan of 2014-15 on Disinvestment; Coal India, ONGC and NHPC Approved for Disinvestment



Government has finalized plans to sell a part of its stake in Coal India, ONGC and NHPC under its disinvestment programme for 2014-15 targeted to mop up around Rs.58,425 crores. As per the Action Plan of 2014-15 on Disinvestment, Coal India, ONGC and NHPC have been approved for disinvestment.


The disinvestment target and the actual receipts during the last four years is shown in the table below.

Table 1: Disinvestment Target and Actual Receipts in last four years (in Rs. crore)

S.No.
                             Year
Target
Actual Receipts
1.
2010-11
40,000
22,144.21
2.
2011-12
40,000
13,894.05
3.
2012-13
30,000
23,956.81
4.
2013-14
40,000
15,819.46

As a general phenomenon, other things remaining the same, when the supply of any stock in the market increases, there is a run-down on the stock price. Disinvestment increases the quantity of CPSE stocks in the market. Therefore, the recent fall in share prices of Coal India, ONGC and NHPC is nothing unusual and does not show any diminished appetite for these stocks. 

This information was given by the Union Minister of Finance, Shri Arun Jaitley in written reply to a question in Rajya Sabha today.


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India Signs Credit Agreement with International Fund for Agricultural Development (IFAD) for Us$ 50 Million for the Meghalaya Livelihood and Access to Markets Projects (Megha-LAMP)
A financing agreement for a credit amount of US$ 50 million from International Fund for Agricultural Development (IFAD) was signed here today by Shri Tarun Bajaj, Joint Secretary, Department of Economic Affairs, Ministry of Finance on behalf of Government of India for the Meghalaya Livelihood and Access to Markets Projects (Megha-LAMP). Similarly a project agreement for implementation of the said Project has been signed by Shri R.M. Mishra, Principal Secretary, the Government of Meghalaya on behalf of the State Government.

The Objective of the project is to adapt expanded and sustainable livelihood opportunities to the hill environment and to the effects of climate change. The project size is US $ 169.7 million, of which US $ 50.00 million will come in the form of IFAD credit. The remaining amount will be mobilized through State Government contributions, commercial Banks, complementary government programmes and participating households. It is expected to benefit more than 147,000 households, comprising of about 827,000 people.

The Megha-LAMP Project will close in December 2022. 
Action Plan of 2014-15 on Disinvestment; Coal India, ONGC and NHPC Action Plan of 2014-15 on Disinvestment; Coal India, ONGC and NHPC Reviewed by Ajit Kumar on 8:32 AM Rating: 5

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