PM Modi

Government Committed To Privatise All Sectors: Modi

"Public sector enterprises need not be kept running just because they've been running for so many years. It is the responsibility of the government to give full support to the enterprises of the country but at the same time, the government has no business to be in business," the PM further said

February 26, 2021

Prime Minister Narendra Modi has said that the government is committed to privatising all the sectors except strategic ones.

"A clear roadmap for investments would be drafted. This would create new investment opportunities and immense employment opportunities in every sector," he said.

The Prime Minister on February 25 was addressing a webinar on effective implementation of budget provisions in the Department of Investment and Public Asset Management (DIPAM) through a video conference.

He said that the present budget has put forward a clear roadmap to take India back to the high growth trajectory.

"The budget also focuses on the strong contribution of the private sector in India's development," PM Modi further said as he stressed the importance of disinvestment and asset monetisation.

"The time and needs of the country when the public sector enterprises were started were different from today. The biggest goal of these reforms is to properly utilise public money," PM Modi said.

"Many public sector enterprises are loss-making and are supported by taxpayers’ money and due to this, the economy is also burdened," he further added.

"Public sector enterprises need not be kept running just because they've been running for so many years. It is the responsibility of the government to give full support to the enterprises of the country but at the same time, the government has no business to be in business," the PM further said.

The Prime Minister said that the focus of the government should be on the welfare of the people and on development-related projects.

He added that the government works with several limitations and hence it is not easy to take commercial decisions.

"The effort of our government is to improve the standard of living of the people, besides reducing the government's unnecessary interference in the lives of the people," he further said.

"There should be no lack of government or influence of government in life. There are a lot of underutilised and unutilised assets in the country and the National Asset Monetisation Pipeline was announced with this in mind," he further said.

"The government is going ahead with the mantra of 'Monetise & Modernise' and when the government monetises, that space is filled by the private sector of the country," he further said adding that the private sector brings investment and best global practices with them.

He said that the money that comes from the monetisation of public assets and privatisation can be used in public welfare schemes.

"Privatisation would empower the youth with better employment opportunities," he added.

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