When Prime Minister Narendra Modi assumed power in 2014, one of his big promises was to deliver “minimum government, maximum governance”. On these lines, his government was expected to cede control of some public assets to the private sector, either through outright sale or by bringing private sector firms into their operation/ management to make them more productive. However, his government achieved little on this count in its first term, cornered as it was by the opposition’s “suit-boot ki sarkar” jibe.
In its Union budget in February this year, the Modi government made high-decibel pronouncements in two areas involving the private sector—disinvestment and asset monetisation. The initial results of its disinvestment push have been mixed. The sale of Air India has received interest from a few private suitors, with the bidding process slated to be completed within this fiscal year, while LIC (Life Insurance Corporation) is gearing up for a public listing of shares this year. However, the sale of PSUs (public sector units) such as BPCL (Bharat Petroleum Corporation Limited), Container Corporation of India and IDBI Bank remain in limbo. It is at this juncture that the government decided to embark on its next big drive—asset monetisation. Under this, public assets are to be leased to private firms for an upfront fee. This, the government believes, is likely an easier target to hit. It also sidesteps the opposition to privatisation that has scuppered previous attempts to generate revenue from public assets.
This story is from the September 27, 2021 edition of India Today.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the September 27, 2021 edition of India Today.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
The Mamata Pushback
The West Bengal Chief Minister Faces A BJP Onslaught On Issues Like Corruption And Women's Safety. Unwilling To Yield An Inch, The TMC Is Building A Narrative That The Saffron Party Is 'Anti-Bengali'
Who Will Win The Mahayuddh?
In Maharashtra's Most Complex Political War Ever, Shifting Alliances Fuel A Gripping Saga Of Power Struggles And Betrayals In The Pursuit Of Votes
Grand Young Master
Seventeen-yearold D. Gukesh has become the youngest player to win the Candidates chess tournament
SPORTING SPIRIT
BADMINTON PLAYER ASHWINI PONNAPPA, 34, IS OFF TO HER THIRD OLYMPICS, THIS TIME WITH A NEW PARTNER, TANISHA CRASTO
PORTRAITS OF A PEOPLE
Etchings by the colonial Flemish artist F. Baltazard Solvyns are getting a new lease of life in an exhibition at the Dr. Bhau Daji Lad Museum, Mumbai
Centennial Man
A seminal exhibition of K.G. Subramanyan's works in his birth centenary year at Emami Art, Kolkata takes an imaginative and immersive curatorial approach
Rhythms of Nature
ARTIST AND MUSIC COMPOSER GINGGER SHANKAR'S LATEST SINGLE COMBINES SOUTH INDIAN MUSIC WITH INUIT THROAT SINGING
SEARCHING FOR THE SOUND
Kashmiri musician Faheem Abdullah’s debut album Lost; Found is a collaborative effort
FOUND IN TRANSLATION
With its excellent translations, Songs of Tagore makes Rabindrasangit accessible to the non-Bengali reader
Of Freedom and Friendship
T.C.A. RAGHAVAN'S CIRCLES OF FREEDOM FOLLOWS THREE YOUNG MUSLIMS DRAWN INTO THE FREEDOM STRUGGLE