Under the government's FY17 disinvestment plan, disinvestment receipts may be pegged around Rs 40,000 crore. Sources say that some more clarity in strategic disinvestment policy is likely in the upcoming Budget.

In Budget 2015, the government had set its divestment target at a whopping Rs 69,500 crore, of which Rs 41,000 crore was expected to come in from 5-15 percent stake sales in profitable listed PSUs and Rs 28,500 crore from strategic stake sale of sick state-owned companies.

In addition, the government may announce setting-up of a Disinvestment Commission in Budget 2016 to advise on stake sale of loss-making units. The Commission would advise on residual stake sales along with mode and quantum of stake sales.

CNBC-TV18 learns that the body may advise on specific cases referred to it by the government. However, the recommendations by the Commission will be examined by a committee of secretaries.