PM Modi said that the funds raised by selling government properties will be spent on development projects.
The Central Government is working on a plan to raise Rs 2.5 lakh crore by selling 100 of its idle or semi-used properties in the market (Monetize Assets). Prime Minister Narendra Modi said that the government is emphasizing on monetization and modernization. The money coming from monetization of idle properties will be spent on the common people.
- February 24, 2021, 9:30 PM IST
‘Whenever the government interferes in business, there are losses’
PM Modi said that public sector companies will be kept at a minimum level in four areas of strategic importance. Also, when the government does monetization, the private sector fills that empty space. The private sector brings together the things adopted globally with investment. He said that the government’s job is not to do business. The government’s job is to focus on the development project. Whenever the government interferes in business, there are big losses. A government bound by rules cannot take difficult and risky commercial decisions. He told that the government is working on new national infrastructure projects worth Rs 111 lakh crore.
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On the privatization of public sector undertakings, PM Modi said that this is the need of the hour. The era of establishment of government companies was different and the requirements of that time were also different. 50-60 years from now, there is always room for improvement in policies that give good results. Now that we are taking steps towards policy reforms, our objective is better use of public money. He said that the funds raised through monetization and disinvestment will be used on development projects. Decisions on modalization and privatization will help in empowering Indian citizens.