Barring Four Sectors, PSUs In All Sectors Would Be Privatised: PM Modi!

Thu Feb 25 2021 13:26:25 GMT+0530 (IST)

When the entire country eagerly waited for various schemes and helping hand to people who suffered severe losses during the lockdown period, Finance Minister Nirmala Sitharaman surprised everyone with her budget.

In the Union Budget 2021-22, Nirmala Sitharaman has endorsed the proposal to privatise the public sector enterprises.

Amid growing concerns over privatising various public sector units, Prime Minister Narendra Modi said the government cannot run the business and proposed the idea to privatise the public sector units.

Backing the government’s decision of privatisation, Narendra Modi said, several PSUs (public sector units) are going through severe losses and these units ate supported by taxpayers’ money.

The Prime Minister said the privatisation of public sector units will attract more investments which will help the entities to take the path of growth.

Narendra Modi made these sensational comments while addressing the webinar conducted by the Department of Investment and Public Asset Management (DIPAM). The webinar was held on privatisation.

Privatisation brings efficiency to the public sector units, which in turn creates jobs. Money earned from privatisation and asset monetisation will be used for public use, the PM said.

There are many underutilised assets in the country, all of those assets would be monetised to garner Rs 2.5 lakh crore. Leaving four strategic sectors, the government is committed to privatise the PSUs in all sectors, he added.