The stake sale target of the government has been increased to Rs 1,05,000 crore for 2019-20 from Rs 90,000 crore set in the interim budget, which would help the government in meeting the fiscal deficit target.

While presenting her budget in the Lok Sabha on Friday, Sitharaman said, “The government is setting an enhanced target of Rs 1,05,000 crore of divestment receipts for financial year 2019-20. The government will undertake strategic sale of PSUs. The government will also continue to do consolidation of PSUs in the non-financial space as well.”

The Centre managed to rake in Rs 85,000 crore (from the budgeted Rs 80,000 crore) for 2018-19.

For 2018-19, the department of investment and public asset management (Dipam) got a sizeable amount from its marquee exchange-traded funds — CPSE and Bharat 22.

While Rs 18,729.85 crore has been garnered from two fund offerings of the Bharat 22 ETF in the last fiscal, Rs 26,500 crore has come in from the CPSE ETF.

“The government is aiming to lower the central government’s deficit to 3.3 per cent of GDP in fiscal 2020 from 3.4 per cent in fiscal 2019. To achieve this goal, it is relying on one-off divestment income as well as higher taxes on the rich, and increased excise duties on petrol, diesel, precious metals and tobacco products,” Gene Fang, associate managing director, sovereign risk group, Moody’s Investors Service, said.

The finance minister said the government will undertake strategic sale of PSUs and continue to do consolidation of PSUs in the non-financial space as well.