As part of the disinvestment, the government is putting up 30.48% of IDBI Bank on the block, while Life Insurance Corporation of India is going to sell 30.24%The government will continue pushing hard to sell stakes in public sector companies despite having met its target for the 2026-27 fiscal year following the Cabinet’s approval to the ‘strategic restructuring’ of IDBI Bank.On Wednesday, the Cabinet Committee on Economic Affairs announced Canada’s Fairfax Financial Holdings, backed by Indian-Canadian billionaire Prem Watsa, as the buyer of 60.72% stake in IDBI Bank for Rs 52,878 crore.As per latest data from the Department of Investment and Public Asset Management (DIPAM), the Centre has so far raised Rs 55,757 crore via disinvestments. Once the IDBI Bank deal is completed – which is expected to happen by the end of the fiscal – the Centre will meet its full-year disinvestment target of Rs 80,000 crore.As part of the disinvestment, the government is putting up 30.48% of IDBI Bank on the block, while Life Insurance Corporation of India is going to sell 30.24%. As such, the total proceeds of Rs 52,878 crore will be split almost evenly between the two.“We can’t stop (after this),” a senior finance ministry official said. “Only a few weeks after the Budget was presented in February, the closure of Strait of Hormuz led to supply disruptions. So, the government is spending a lot this year, especially on oil and fertiliser.”“We had planned in advance to stock up fertiliser for the rabi season, but we continue to receive requests for more. And we can’t say no. So, a steady flow of disinvestment receipts will help the government’s fiscal situation,” the official further said, adding that “everything decided in Cabinet (on disinvestment approvals) will keep going.”Some of the government enterprises where in-principle approval has already been given for whose strategic disinvestment but is not yet completed include BEML Ltd, Shipping Corporation of India Ltd, HLL Lifecare Ltd, Project & Development India Ltd, and NMDC Steel Ltd.Story continues below this ad“Disinvestment is a difficult process. A lot of people are involved. And while the pace of the process may not be as fast as everyone would want it to be, we are going ahead meticulously and steadily to ensure the result is process driven,” the aforementioned official said.The Budget for 2026-27 had estimated that the Centre will spend Rs 1.71 lakh crore as fertiliser subsidy. However, data from the Controller General of Account shows the combined subsidy spending on urea and nutrient-based fertilisers was Rs 1.03 lakh crore, 60% of the full-year target, in just the first five months of the fiscal, or April-August.The Centre is targeting a fiscal deficit of 4.3% of GDP in 2026-27, or Rs 16.96 lakh crore in absolute terms. In April-August, the fiscal deficit was Rs 7.1 lakh crore, or 41.9% of the full-year target.In addition to raking in Rs 55,757 crore so far in 2026-27 through disinvestments – exclusive of the IDBI Bank stake sale announced on Wednesday – the government has also got Rs 17,773 crore as dividends. For the year as a whole, the government had pegged dividends from public sector enterprises to be Rs 75,000 crore. As such, more than Rs 50,000 crore is yet to come through this route.Siddharth Upasani is a Deputy Associate Editor with The Indian Express. He reports primarily on data and the economy, looking for trends and changes in the former which paint a picture of the latter. Before The Indian Express, he worked at Moneycontrol and financial newswire Informist (previously called Cogencis). Outside of work, sports, fantasy football, and graphic novels keep him busy. ... Read MoreAanchal Magazine is a Deputy Associate Editor with The Indian Express, serving as a leading voice on the macroeconomy and fiscal policy. With 15 years of newsroom experience, she is recognized for her ability to decode complex economic data and government policy for a wider audience. Expertise & Focus Areas: Magazine’s reporting is rooted in "fiscal arithmetic" and economic science. Her work provides critical insights into the financial health of the nation, focusing on: Macroeconomic Policy: Detailed tracking of GDP growth, inflation trends, and central bank policy actions. Fiscal Metrics: Analysis of taxation, revenue collection, and government spending. Labour & Society: Reporting on labour trends and the intersection of economic policy with employment. Her expertise lies in interpreting high-frequency economic indicators to explain the broader trajectory of the Indian economy. Personal Interests: Beyond the world of finance and statistics, Aanchal maintains a deep personal interest in the history of her homeland, Kashmir. In her spare time, she reads extensively about the region's culture and traditions and works to map the complex journeys of displacement associated with it. Find all stories by Aanchal Magazine here ... Read More