Categories: Business

Government companies will be privatized! Government will announce new policy

Photo: INDIA TV

Public sector enterprises will be privatized, says Finance Minister Nirmala Sitharaman

new Delhi. Making a big announcement of economic reforms, the central government has decided to privatize most of the public sector companies, except for a few companies. On Sunday, Finance Minister Nirmala Sitharaman said that despite all the areas being opened to private sectors, the importance of public sector enterprise is very high, it will be maintained, in any sector where there is private sector, at least one public The sector will be enterprise only.

All strategic sectors will remain a public sector enterprise, public sector enterprise companies can be acquired or merged to reduce wasteful expenditure and administrative costs. There will be one to four enterprises, the rest can also be privatized keeping in view the time ahead. It is clear from the government's decision that most of the public sector companies except some strategic sector will be privatized.

According to the Finance Minister, this decision is being taken to reduce unnecessary expenses due to more government companies in the same sector. Also, it is not necessary for government companies to work in non-essential sectors. In such a situation, companies in these sectors will be privatized, for which the time limit will be fixed in the matter. At the same time, the Finance Minister said that the presence of a government company in the sector necessary for the country is sufficient. According to the policy the government is planning, private sector participation will remain in every sector of the country, although government companies will work only in select sectors.

As of 31 March 2018, there are currently 339 Central Public Sector Enterprises in the country. Out of these, commercial business has not started till date given in 82. There are 179 schedule CPSEs in 257 doing the rest of the business. These companies include metal, chemical, petrochemical, aviation, fertilizer, defense, space, infrastructure, heavy engineering, electronics, transportation, besides companies related to sectors like logistics, forest, environment, health, finance, insurance, textile, housing. Huh.

This post was published on May 17, 2020 5:45 pm

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