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Is Privatizing Public Services the Ulterior Motive of DOGE?

Mint Ahmedabad

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March 20, 2025

Trump's supporters may well be hit the hardest by such an agenda

- Patricia Lopez

U.S. Republicans have long thought that what the federal government does can be done better, faster, or cheaper by the private sector. So it should not shock anyone that U.S. Treasury Secretary Scott Bessent recently revealed a larger agenda that sheds light on the Trump administration's seemingly indiscriminate cuts to federal workers and agencies. President Donald Trump's overarching goal, Bessent said, is to "reprivatize the economy."

That casts Elon Musk and his unofficial Department of Government Efficiency (DOGE) in a new light—as the vehicle for slashing agency functions to a skeletal state and outsourcing the rest to what would be a much more lightly regulated private sector. Musk himself at a recent Morgan Stanley conference suggested that the government privatize "as much as possible."

The DOGE cuts so far are not enough to make a dent in the national debt or offset Trump's proposed tax cuts for the wealthy. Nor do they make government more efficient, which would require a thoughtful assessment. There is no evidence that the "fraud, waste, and abuse" Musk claims to have discovered amounts to anything more than spending with which he and Trump disagree.

But as a means to push the nation closer to mass privatization of services? Now the cuts make sense.

MEER VERHALEN VAN Mint Ahmedabad

Mint Ahmedabad

PMS firms ask Sebi to review fees paid for index data

The industry body for portfolio management services, or PMS, managers has approached markets regulator Securities and Exchange Board of India to reduce or remove fees paid to exchanges to use their indices to benchmark scheme performance, said four people aware of the development.

time to read

1 mins

November 21, 2025

Mint Ahmedabad

Mint Ahmedabad

TPG to invest $1 bn in TCS's data centre biz

TPG is to pick up a 49% stake in TCS arm HyperVault AI Data Centre

time to read

2 mins

November 21, 2025

Mint Ahmedabad

Lenovo India Q2 revenue jumps 23%

Integrated IT solutions provider Lenovo's India arm on Thursday reported a 23% year-on-year increase in revenue at $1.2 billion in the September quarter, aided by strong demand fuelled by digitisation, premiumisation and improved consumer sentiment following goods and services tax (GST) rejig.

time to read

1 min

November 21, 2025

Mint Ahmedabad

Mint Ahmedabad

Carmakers tap EMs to shield exports amid China threat

Firms are increasingly using India as a cost-competitive manufacturing base and export hub

time to read

2 mins

November 21, 2025

Mint Ahmedabad

Flipkart-backed super.money preps ‘buy now, pay later’ play

Flipkart-backed UPI app super.money is preparing afresh push into buy now, pay later (BNPL) by partnering regulated banks and lenders, as it hunts for its next leg of growth beyond credit on UPI, according to two people aware of the plans.

time to read

2 mins

November 21, 2025

Mint Ahmedabad

KKR to raise $15 bn in new Asia PE fund

KKR has kicked off fundraising for its fifth Asia private equity fund, seeking to raise $15 billion in what would be one of the region's largest buyout fundraisings, three people with knowledge of the matter said.

time to read

1 min

November 21, 2025

Mint Ahmedabad

Mahindra targets 8-fold auto growth

Mahindra Group is aiming for an eight-fold growth in consolidated revenue of its auto sector by FY30 compared to that in FY20, betting big on SUVs and light commercial vehicles.

time to read

1 min

November 21, 2025

Mint Ahmedabad

Decoding Narayana stock spurt

Narayana Hrudayalaya Ltd investors must be in the pink of health.

time to read

2 mins

November 21, 2025

Mint Ahmedabad

Bajaj's arm hires CIO from Kotak

The alternative investment management arm of the Bajaj Group, one of India’s oldest conglomerates, hired a chief investment officer (CIO) from Kotak Alternate Asset Managers Ltd, according to people familiar with the matter, underscoring an intensifying talent battle in the $169 billion asset management industry.

time to read

1 min

November 21, 2025

Mint Ahmedabad

Mint Ahmedabad

Fed’s October rate decision fueled pushback over possible December cut

Divisions over whether the Federal Reserve should cut interest rates next month deepened at officials’ October meeting, leaving a growing contingent—and potentially a narrow majority—of policymakers uncomfortable with a December rate reduction.

time to read

3 mins

November 21, 2025

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