Disinvestment disrespect

One of the many optimistic targets this government set for 2011-12 was its disinvestment revenue mobilisation forecast of Rs 40,000 crore. The fact that disinvestment has not taken off and that markets are subdued appears to have pushed the government into creating short cuts. Recent moves from the Securities and Exchange Board of India, or Sebi, are particularly disturbing when viewed in this light. Sebi has announced new mechanisms that allow company promoters to raise money. 

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