Prime Minister Narendra Modi on Wednesday said the government has no business to be in business and that it was committed to privatising all PSUs except the bare minimum in important sectors.
He said the government’s duty was to support businesses and that it need not essentially own and run enterprises.
Speaking at a webinar on privatisation by the Department of Investment and Public Asset Management (DIPAM), Modi said the Centre’s policy is to either monetise or modernise public sector enterprises.
The government has “no business to be in business”,” he said.
Explaining why it was better to sell off sick PSUs, he said such companies have to be supported by taxpayers’ money and it was not right to run them as mere legacies.
The government has many under-utilized and un-utilised assets and 100 assets would be monetised to garner Rs 2.5 lakh crore, Modi said.
He said the Budget 2021 had given a clear roadmap to take India to a high growth trajectory. He said asset monetisation will help empower the citizens.
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