Prime Minister Narendra Modi speaking in a webinar on privatization. (ANI / 24 Feb 2021)
PM Modi on Privatisation: The Prime Minister said that the government is committed to the privatization of all public sector undertakings except four strategic areas.
- February 24, 2021, 7:51 PM IST
New Delhi. Prime Minister Narendra Modi said on Wednesday that ‘doing business is not the government’s job’ and that his government is committed to privatizing the undertakings of other sectors except some public sector undertakings in strategic areas. He said, “Government companies should not be run only because they are inherited.”
The Prime Minister said that due to financial support to sick PSUs, the economy is burdened. With this, he said that India is now a market, a country with a tax system. Here the tax system has been simplified and compliance complexes have been improved. During this time, the Prime Minister also praised the General Budget 2021-2022.
PM Modi gave this argument regarding privatization
1. Many public sector undertakings are in loss, many are being helped with taxpayer money.2. Financial support to ailing public sector undertakings puts a burden on the economy, government companies should not be run simply because they are inherited.
3. Doing business is not the work of the government, government should focus on public welfare.
4. The government has many such assets which have not been fully utilized or are lying idle, Rs 2.5 lakh crore will be raised by raising 100 assets in the market.
5. The government is focusing on monetization, modernization, efficiency comes from the private sector, employment is provided. The money that will come from privatization and monetization of property will be spent on the public.
Also read: – PM Narendra Modi advocates for privatization, said – Doing business is not the work of the government
The Prime Minister said that the government is committed to privatization of public sector undertakings in all other areas except four strategic areas. He said that the public sector companies will be kept at a minimum level in the four areas of strategic importance. PM Modi said that his government is working on a new national infrastructure projects pipeline (list) worth Rs 111 lakh crore.