Money Control reported that the government may miss its INR 40,000 crore disinvestment target due to the delay in the Indian Oil and Hindustan Copper follow on public offers.

The shortfall may be a result of the possibility of not having the IOC FPO this fiscal without which the government may now garnered only about INR 38,000 crore.

Sources at the finance ministry said that the Hindustan Copper FPO which was earlier scheduled for December could slip to next fiscal. However, no final decision on the FPO timing has been taken yet.

Sources said that this deferral is likely on the back of the Mining Bill which is currently being discussed by the government. There is lack of clarity on key provisions of the bill.

(Sourced from www.moneycontrol.com)