It is clear that private-corporate investment, which grew dramatically in the boom before the 2008 global crisis rising from 6.2% of GDP to 16.8% in the space of just five years, has come to a grinding halt. That boom-driven investment in manufacturing, infrastructure, and real estate collapsed after the crisis. With the slowing down of private corporate investment since 2015-16 from 11.6 to 10.3 in 2018-19 as percentage of GDP at current prices even before Covid-19, implied opportunities for any revival are shrinking further. It appears that Modi government’s ‘magic wand’ of private corporate investment has simply disappeared. The refusal of the government to formulate an appropriate Covid relief package to save jobs and energising economic activity to shore up demand is consigning the economy to further depths of crisis. The huge tax break last year to the corporates has bombed in infusing life in the economy and expanding revenue collection. Therefore, in order to be on the right side of the corporates, Modi regime has decided to hand over public assets through big-time privatisation of all major national assets. This brazen-pro corporate drive of the government has led to using the pandemic condition; for launching severe attack on the rights of the people, not to tackle the health and the economic fallout of the lockdown.