Speed up divestment — Pant

NEW DELHI, OCT 31: Planning Commission has warned the Centre that `slow' divestment of government equity in public sector undertakings th...

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NEW DELHI, OCT 31: Planning Commission has warned the Centre that `slow’ divestment of government equity in public sector undertakings this year could result in missing the Rs 10,000 crore target and put pressure on the difficult fiscal position.

"There is a slow movement of the disinvestment process, "deputy chairman of the Planning Commission K C Pant said. He asked the government to make all-out efforts to augment and increase both tax and non-tax revenue to check widening fiscal deficit.

He apprehended that present process of disinvestment of government equity might not lead to attainment of the target of Rs 10,000 crore, which was crucial to check the fiscal deficit.

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Pant said it was necessary to take note of the "difficult fiscal situation" and this should be the top-most economic priority of the government. headed by Atal Bihari Vajpayee.

Managing the finances of the Centre would be crucial to maintain the rate of growth and flow of investment to fulfil the Ninth Plan GDP growth target of 6.5per cent, he said and pointed out the silver lining was "strong fundamentals" of the economy.