India's union Finance Minister Pranab Mukherjee has said on Friday that the government's target of Rs. 40,000 crore set for the current fiscal for disinvestment is unlikely to be changed.

The government is aiming to achieve the target for year but the progress will depend on other factors in the country. The government has generated Rs. 1,145 crore through a equity sale in the Power Finance Corporation (PFC).

"I am not revising it [disinvestment target] right now. We have fixed the target and we will try to achieve it, but it depends on many other situations, particularly the economic health conditions," said Mr. Mukherjee.

The stock markets in the country have remained very uncertain due to the fluctuations in the foreign currency as well as EuroZone debt crisis. Due to eh increasing volatility, all of the planned public offerings of public sector undertakings (PSUs) have been put on hold. After two quarters of the fiscal year, many are now doubting if the disinvestment target of the government will be achieve this year.

Mr. Mukherjee said that the government will consider all other aspects and take a decision on the matter on appropriate time. The government is planning a stake sale in SAIL and Hindustan Copper (HCL), ONGC, BHEL, RINL, Hindustan Aeronautics and NBCC among other firms.