Budget 2021-22 Privatization may be postponed

In terms of the economy reset plan, direct and indirect tax collections have picked up, and greater dividends from state-owned firms, as well as the Reserve Bank of India, are expected to help government revenues.

The privatization of two state-owned banks and downstream oil firm BPCL, which were announced in Budget 2021-22, is now set to extend into next year, even as the Centre rushes to complete the Life Insurance Corporation IPO by the end of the quarter. LIC’s initial public offering, depending on its size, might help the government reach a portion of its Rs 1.75 lakh crore FY22 disinvestment target, of which only about 5.3 percent, or Rs 9,329.90 crore, has been raised so far, according to official data.;