DIPAM's disinvestment receipts were ₹24,349 crore in 2014-15 and ₹23,997 crore in 2015-16. They rose to ₹46,247 crore in 2016-17, ₹1,00,037 crore in 2017-18 and ₹84,972 crore in 2018-19. Receipts were ₹50,300 crore in 2019-20, ₹32,886 crore in 2020-21, ₹13,534 crore in 2021-22 and ₹35,294 crore in 2022-23. In the three years after that they were ₹16,507.29 crore, ₹10,163.02 crore and ₹16,885.56 crore (2025-26).
Disinvestment & Privatisation
Disinvestment & Privatisation
The Department of Investment and Public Asset Management (DIPAM) manages the Government's equity in central public sector enterprises, selling shares through offers for sale, public offers and strategic sales. Its receipts were ₹24,349 crore in 2014-15, reached ₹1,00,037 crore in 2017-18, and were ₹16,885.56 crore in 2025-26; by 10 September 2026 they totalled ₹5,10,929.16 crore since 2014-15. The strategic sale of Air India was completed on 27 January 2022. Separately, the National Monetisation Pipeline, launched on 23 August 2021, leases operating infrastructure assets to private operators for a limited period rather than selling them. The counter shows disinvestment receipts per financial year.
₹1,00,037 cr
Highest annual disinvestment receipts (2017-18)
₹2,700 cr
Air India sale consideration received (27 Jan 2022)
₹16.72 lakh cr
NMP 2.0 monetisation potential, FY 2026 to FY 2030 (23 Feb 2026)
Disinvestment receipts (₹ crore, by financial year)
| Year | Disinvestment receipts |
|---|---|
| 2015 | 24,349 crore |
| 2016 | 23,997 crore |
| 2017 | 46,247 crore |
| 2018 | 1,00,037 crore |
| 2019 | 84,972 crore |
| 2020 | 50,300 crore |
| 2021 | 32,886 crore |
| 2022 | 13,534 crore |
| 2023 | 35,294 crore |
| 2024 | 16,507 crore |
| 2025 | 10,163 crore |
| 2026 | 16,886 crore |
2015
0crore
Disinvestment receipts
20152026
Since 2015
Reduced
−7,463 crore
2015
24,349 crore
2026
16,886 crore
Why it matters Disinvestment receipts go to the Government's budget and are counted against its spending needs. Monetisation of roads, power lines and other operating assets is meant to raise money for new infrastructure while ownership stays with the Government.
- Disinvestment receipts: ₹24,349 crore (2014-15), ₹1,00,037 crore (2017-18), ₹16,885.56 crore (2025-26)
- LIC: 3.5% sold through an IPO in 2022-23 for ₹20,516.12 crore (Government then 96.5%); a 6.5% offer for sale in 2026-27 raised ₹31,514.89 crore, leaving 90%
- Air India: 100% of Air India and AIXL and 50% of AISATS transferred to Talace Pvt Ltd on 27 Jan 2022 for ₹2,700 crore, with ₹15,300 crore of debt retained
- National Monetisation Pipeline (23 Aug 2021): ₹6.0 lakh crore potential over FY 2022 to FY 2025
- NMP achievement: about ₹2.30 lakh crore in 2021-22 and 2022-23, and about ₹1.56 lakh crore in 2023-24 (June 2024)
- NMP 2.0 (23 Feb 2026): ₹16.72 lakh crore potential, including ₹5.8 lakh crore of private investment, over FY 2026 to FY 2030
History
Notable milestone
The strategic sale of Air India was completed on 27 January 2022. A Letter of Intent went to the winning bidder, Talace Pvt Ltd, a wholly owned subsidiary of Tata Sons, on 11 October 2021, and the Share Purchase Agreement was signed on 25 October 2021. The Government received ₹2,700 crore, retained ₹15,300 crore of debt, and transferred 100% of Air India and its subsidiary AIXL and 50% of AISATS, leaving it no equity in either airline. Other strategic sales include NINL, where Tata Steel Long Products' bid for 93.71% of shares at a bid enterprise value of ₹12,100 crore was accepted, and Ferro Scrap Nigam Ltd, sold to Konoike Transport for ₹320 crore.
How it works
DIPAM records each transaction by method, such as offer for sale (OFS), initial public offer (IPO) and strategic disinvestment (SD). In 2022-23 the Government sold 3.5% of LIC through an IPO for ₹20,516.12 crore, keeping 96.5%; in 2026-27, up to 10 September 2026, DIPAM recorded ₹55,757.29 crore, including ₹31,514.89 crore from a 6.5% OFS in LIC, after which the Government holds 90%. The National Monetisation Pipeline is separate: it covers operating infrastructure assets offered through structured contractual partnerships, as against privatisation or slump sale, and excludes disinvestment. NMP 2.0 follows the same concept, with modes such as transfer of assets for a limited period, divestment of portions of listed entities, securitisation of cash flows and strategic commercial auctions.
Outlook
The first pipeline, launched on 23 August 2021, estimated monetisation potential of ₹6.0 lakh crore over FY 2022 to FY 2025. Against targets of about ₹2.5 lakh crore for 2021-22 and 2022-23, about ₹2.30 lakh crore was achieved, and about ₹1.56 lakh crore was achieved in 2023-24 against ₹1.8 lakh crore. Launching NMP 2.0 on 23 February 2026, the Finance Minister said nearly 90% of the ₹6 lakh crore target had been met. NMP 2.0 estimates ₹16.72 lakh crore of potential over FY 2026 to FY 2030, including ₹5.8 lakh crore of private sector investment.
By the numbers
₹5,10,929.16 crore disinvestment receipts, 2014-15 to 2026-27 (to 10 Sep 2026). ₹1,00,037 crore highest annual receipts (2017-18). ₹16,885.56 crore receipts in 2025-26. ₹2,700 crore received for Air India, with ₹15,300 crore of debt retained (27 Jan 2022). ₹16.72 lakh crore NMP 2.0 potential, FY 2026 to FY 2030. Sources: DIPAM, Ministry of Finance; Ministry of Finance and NITI Aayog via PIB.
Data current to: 2014-15 to 2026-27, as updated on 10 September 2026
Source: Department of Investment and Public Asset Management (DIPAM), Ministry of Finance — the chart shows disinvestment receipts in ₹ crore for each completed financial year from 2014-15 to 2025-26, labelled by the year in which the financial year ends; the partial year 2026-27 is left out. The headline is DIPAM's total of ₹5,10,929.16 crore for 2014-15 to 2026-27, from its Total Receipts table last updated on 10 September 2026 (linked). · link