Target to be missed? BPCL, ConCor strategic sale running behind schedule

Fresh doubts have emerged on whether the government will be able to conclude the Cabinet-approved strategic sales of BPCL, ConCor and Air India before the end of the current fiscal as it appears racing against time given the elaborate processes involved. Completing the disinvestment of BPCL and ConCor — which involves transfer of management control — is crucial for the revenue-hungry government to meet the FY20 disinvestment target of Rs 1.05 lakh crore and avoid a big fiscal slippage.

The Centre’s net tax revenue grew just 3.4% in April-October period of the current fiscal year, against a growth of 25.3% required to meet the budget estimate for the year.