The FY20 divestment target has been hiked to Rs 1.05 trillion from Rs 90,000 crore, said Finance Minister Nirmala Sitharaman on Friday while presenting Budget 2019.

The Finance Minister also said that the government would continue with the strategic disinvestment of select Central Public Sector Enterprises (CPSEs). The strategic disinvestment of Air India would also be re-initiated.

Sitharaman said that India needs to make structural reforms to achieve $5 trillion economy in the next few years. Presenting the first Budget of the Modi government in its second term, she said that the Indian economy, which stood at $1.85 trillion five years back, has reached $2.7 trillion now, and is within capacity to reach $5 trillion in the next.