The target of mopping up Rs 1.75 lakh crore from divestments of some of the public sector companies, including LIC and BPCL during the current fiscal, is on track and groundwork is being prepared for the goal, Chief Economic Advisor Krishnamurthy Subramanian said on Monday.
On the COVID-19 pandemic, Subramanian said the impact of the second wave is lesser than that of the first one.
In an interactive session, organised by Federation of Telangana Chambers of Commerce and Industry, the CEA said robust GST collections, over Rs one lakh crore per month for eight months in a row shows that consumption is picking up indicating positive signal for growth.
"There has to be a lot of work which is going on and this year there is actually a lot of emphasis on achieving these targets.Remember that Rs 1.75 lakh crore, a good part of it will be from LIC's IPO (Initial Public Offering). second is Bharat Petroleum (BPCL) privatisation.
"And these two together itself can account for a large part of (divestment target)," he said.