Govt plans to privatise PSUs in all sectors barring 4 strategic ones: PM

Topics privatisation

The government has an ambitious plan to monetise around 100 government-owned assets as part of the monetisation plan, said prime minister Narendra Modi when he spoke about various reforms undertaken in the Union Budget.

"With this the government will be aiming to achieve Rs 2.5 trillion investment, we are going ahead with the mantra of monetise and modernise," Modi said.

Speaking at a webinar on privatisation by the Department of Investment and Public Asset Management (DIPAM), Modi said state-owned companies in four strategic sectors will be kept at bare minimum and that the government is committed to privatising PSUs in all sectors barring four strategic ones.

Further, Modi urged for the feedback on the privatisation and monetisation initiative for swift implementation.

Outlining the government focus going forward, Modi said that the government is working on Rs 111 trillion national infrastructure pipeline (NIP) fund.

"The government has no business to be in business. When government monetises, that space is filled by private sector of the country. Private sector brings investment and best global practices with them," he said.

Modi said that the public sector enterprises are loss-making and several of them need the support of public money and that they should not be run because they were started many years ago and were someone's pet project.

"The Budget has given a clear roadmap to take India to a high growth trajectory," Modi said.



Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel