Budget raises India's capital market ambitions

Singapore

THE Indian government has unveiled its most ambitious target for public share sales so far, looking to capitalise on the robust domestic capital markets to cut its annual deficit.

In last week's federal budget, Finance Minister Arun Jaitley set a 725 billion rupees (S$15 billion) target for divestment in the 12 months from April 1, up from a revised 455 billion rupees goal in the current fiscal year.