Announcing a new PSU privatisation policy, PM Modi said that all PSUs except those in four strategic sectors will be privatised.
Announcing a new public sector undertaking (PSU) privatisation policy, Prime Minister Narendra Modi said that the Centre is committed to privatising all PSUs except those in four strategic sectors adding that the state-owned companies in these sectors will be kept at bare minimum.
“Fiscal support to PSUs that are not performing well, only increases the burden on the economy,” Modi said while adding, “PSUs shouldn't be run just for the sake of keeping alive a legacy.”
The prime minister made the comments while addressing a webinar on privatisation on Wednesday.
Modi further said that money garnered from privatisation and asset monetisation will be put to public use.
“Government has many under-utilised, unutilised assets. As many as 100 assets will be monetised to garner Rs 2.5 lakh crore,” the PM said.
(With PTI inputs)