The Indian government owns a good chunk of businesses that power India –from banks such as SBI to IRCTC, a railway ticketing platform. And every year, it sets a target to sell some of its stake and raise money. But in FY25, the amount of money it has raised through these disinvestments has hit an 11-year low. While this might seem like a worrying trend, in this edition, we explain why there actually might be a hidden benefit.