The government realised a total of Rs 45,306.05 crore through asset monetisation and disinvestment during the financial year 2025-26, surpassing its Revised Estimates target of Rs 33,837 crore for Miscellaneous Capital Receipts, according to data presented in the Lok Sabha on Monday.
Minister of State for Finance Pankaj Chaudhary said in a written response that the total receipts comprised Rs 16,885.56 crore from disinvestment and Rs 28,420.49 crore from asset monetisation. The government had estimated Miscellaneous Capital Receipts of Rs 33,837 crore in the Revised Estimates for FY26. These receipts include proceeds generated through disinvestment of public sector undertakings as well as monetisation of public assets.
The actual collection of Rs 45,306.05 crore was therefore significantly higher than the revised target, reflecting stronger-than-expected proceeds from both asset monetisation and strategic sales during the year.
For the current financial year, the government has budgeted Rs 80,000 crore under Miscellaneous Capital Receipts. According to the latest figures shared in Parliament, it has already realised Rs 59,083 crore under this head in FY27, indicating substantial progress towards the annual target.
Of the amount realised so far in FY27, around Rs 6,367 crore has come from asset monetisation. The remaining receipts have been generated through other components of Miscellaneous Capital Receipts, including disinvestment-related transactions.
The government has also raised significant funds through offers for sale involving several major public sector companies. The transactions covered Central Bank of India, Coal India Ltd, Life Insurance Corporation of India, NHPC, NLC India, General Insurance Corporation of India, Indian Railway Finance Corporation Ltd and Cochin Shipyard.
In addition, the strategic disinvestment of Indian Medicines Pharmaceuticals Corporation Ltd contributed to the overall proceeds. Together, these transactions generated Rs 52,716 crore, according to the government’s response. The figures underline the continued role of public-sector stake sales and asset monetisation as sources of non-tax capital receipts for the Centre.
Disinvestment proceeds have fluctuated considerably in recent years depending on market conditions, the nature and size of transactions and the government's divestment programme. The government realised Rs 10,163 crore through disinvestment in 2024-25, while the proceeds increased to Rs 16,886 crore in 2025-26.
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In earlier years, disinvestment receipts stood at Rs 16,507 crore in FY24, Rs 35,294 crore in FY23 and Rs 13,534 crore in FY22. Asset monetisation and disinvestment form part of the government's broader strategy to unlock value from public assets, improve efficiency and generate resources that can be deployed towards infrastructure and other development priorities.
While disinvestment involves the sale of government stakes in public sector enterprises, asset monetisation generally involves unlocking the value of existing public assets through mechanisms such as leasing or other structured arrangements without necessarily transferring outright ownership.
The stronger-than-expected FY26 collections provide the government with additional fiscal resources while also highlighting the potential of public assets and enterprises to generate capital. With Rs 80,000 crore budgeted under Miscellaneous Capital Receipts for FY27 and Rs 59,083 crore already realised, the government appears to be making significant progress towards its current-year target.
The pace of collections will, however, depend on the timing of future transactions, market conditions and the government's ability to execute planned disinvestment and asset monetisation initiatives.
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