India, Feb. 13 -- In a briefing following the presentation of the interim Budget for the financial year (FY) 2024-25 by the Finance Minister, Nirmala Sitharaman on February 1, 2024, Finance Secretary TV Somanathan stated that the "government no longer views disinvestment - fancy nomenclature for sale of Union government shareholding in central public sector undertakings (CPSUs) - from the perspective of balancing the budget". The statement is out of sync with Sitharaman setting a target of Rs 50,000 crore as proceeds from disinvestment for the FY 2024-25 though it wasn't mentioned in her speech.

If, the government's intent was not to view it as an exercise in balancing the budget - as stated by the finance secretary - then, it made no se...