The Narendra Modi-government, which is almost certain to miss the divestment target by miles, is likely to set an ambitious target in budget 2020-21 as it expects to complete the strategic sales of BPCL and Air India in the next fiscal.

Officials in North Block have indicated that big-ticket strategic sales were unlikely to be completed by the end of this fiscal, which could leave a gap in the budgeted stake sale target by at least Rs 50,000 crore.

However, as a contingency measure, the finance ministry plans to sell government stakes in National Aluminium Co Ltd, Coal India Ltd, NTPC Ltd, NMDC Ltd, and NBCC (India) Ltd, the official said.

Stakes in Bharat Electronics Ltd, National Fertilisers Ltd and Hindustan Copper Ltd could also be offered to reduce the gap in the budgeted sum.

The government’s shareholding in these companies ranges from 52-81.9 per cent.

The government had plans to sell its entire 100 per cent stake in Air India.

In BPCL, it will divest its 53.29 per cent stake. In Concor it will sell 30.8 per cent of its 54.8 per cent stake. The strategic sale of BPCL alone could have yielded at least Rs 60,000 crore, depending upon the competition among the bidders.

However, officials have indicated the expression of interest for BPCL is likely to be floated only by the end of this month and a sale will not happen before June. The shortfall is also likely to affect the government’s ability to meet its 2019-20 fiscal deficit target of 3.3 per cent of GDP.