New Delhi: Finance Minister Arun Jaitley on Thursday proposed to hike the divestment target for 2018-19 by over 10 per cent to Rs 80,000 crore.

"2017-18 Budget Estimates for disinvestment were pegged at the highest ever level of Rs 72,500 crore. I am happy to inform the house that we have already exceeded the budget estimates. I am assuming receipts of Rs 100,000 crore in 2017-18," Jaitley said in his Budget speech.

"I am setting the disinvestment target of Rs 80,000 crore for 2018-19."

According to Jaitley, the government has approved the listing of 14 CPSEs (Central Public Sector Enterprises), including two insurance companies, on the stock exchanges.

"The government has also initiated the process of strategic disinvestment in 24 CPSEs. This includes strategic privatisation of Air India," the minister said.