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BIG STORY                                                             February 26, 2021  |        The Indian Eye                          4

                                     post-pandemic economy

                          gOvt Out Of


           the narendra modi government is planning privatisation of state-run enterprises.

                   it hopes to free up resources for spending on welfare and development.

                 What is the true objective behind taking the government out of business?

        Our Bureau

        New Delhi

               he Narendra Modi gov-
               ernment has accelerated
        Tthe privatisation process.
        Prime Minister Narendra Modi
        said on Wednesday that the
        planned privatisation of state-
        run  enterprises  will  help  free
        up  resources  for  spending  on
        welfare, development, empow-
        er the citizens and create jobs
        as he set a target of monetising
        100 government-owned assets
        across sectors worth Rs 2.5 lakh
            Reiterating his strong back-
        ing  for privatisation and  as-
        set monetisation, the PM said
        the reforms, which have been
        launched, were aimed at ensur-                      Prime Minister Narendra Modi has given green light to major reforms in economy
        ing that public money is spent
        judiciously to benefit the poor,        “It is the responsibility of         “It is our government’s en-      tell you this will continue in fu-
        in what was seen as a response  the government to support  deavour  to improve  the  living                   ture also,” said the PM.
        to critics of the new policy un- and encourage businesses and  standards  of  the  people while                   “The mantra with which the
        veiled in the Budget.                enterprises but it is not neces- reducing the government’s un-           government is moving ahead
            “The money that belongs to  sary for the government to run  necessary inference in their                  is monetise and modernise.
        the poor is used for such enter- businesses or own them. That is  lives,” he said and emphasised              When the government mon-
        prises (PSUs). This puts a huge  why I  say the government has  that there should neither be too              etises, then that space is tak-
        burden on the economy,” Modi  no business to be in business,”  little, nor too much of govern-                en by the private sector,” said
        told a webinar to draw up the  Modi told the webinar attend- ment interference.                               Modi, adding that the private
        roadmap for the implementa- ed by finance minister Nirmala                   Referring to the National        sector brings investment, global
        tion of Budget proposals on  Sitharaman,  investors,  private  Asset Monetisation pipeline,                   best practices, which modernis-
        privatisation and asset moneti- sector executives and govern- the PM said there were sever-                   es and expands the sector and
        sation.                              ment  officials.  “It  is  more  im- al underutilised and unutilised     opens up job opportunities. But
            He said the government  portant for the government to  assets in the country. ”We have                    he also said that to ensure that
        does not have to keep running  focus on welfare and develop- a target of 100 assets from oil,                 this procedure is transparent
        public sector enterprises just  ment projects,” the PM said as  gas, airport, power, which we                 and within rules, there is a need
        because they have been run- he detailed shortcomings of the  plan to monetise. This has the                   to monitor.
        ning for decades or they were  government’s direct involve- potential for investment oppor-                       Noting that the government
        “pet projects of somebody”.          ment in running businesses.         tunities of Rs 2.5 trillion. I can      Continued on next page... >>

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