PSE sell-offs: The Centre must take a clear stance

Sluggish disinvestment signals a shift in the government's position on state ownership of businesses. We need clarity on PSEs. Doesn't their privatization favour India's economy?

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In recent years, the government's policy on disinvestment has been cloudy. While it has in the past endorsed the mantra that 'the government has no business being in business,' its actions would suggest otherwise. Its move to grant Indian Railway Catering and Tourism Corporation (IRCTC) and Indian Railway Finance Corporation (IRFC) 'Navratna' status should bring back attention to this aspect of India's policy. But first things first. These ticketing and financing arms, respectively, of the Railways will now join the ranks of a couple of dozen other public sector enterprises (PSEs) that have been proclaimed as proverbial crown jewels in the Centre's portfolio of assets.