SME Times News Bureau | 08 Feb, 2021
Union Finance Minister Nirmala Sitharaman on Sunday said the
government's latest disinvestment policy including the proposal to
privatise two state-run banks is not akin to "selling the family silver"
as alleged by the opposition.
Speaking at an event here,
Sitharaman said that the government's focus is to strengthen the public
sector undertakings (PSU) and make sure they professionally run
themselves.
"It should be looked at with the correct perspective.
It is not as the opposition says as 'selling the family silver'. Family
silver should be strengthened. It should be your strength," she said.
On
the banking sector, she noted that for the growth of the Indian
economy, the country requires at least 20 banks of the size of the State
Bank of India (SBI).
She reiterated that the government would
have bare minimum presence in the strategic sectors where it is very
important for the government to stay.
The Finance Minister who
presented her third Budget on February 1 noted that the strategic
sectors will not remain totally under the government's domain and
private players too will be allowed in the sectors.
Presenting
the Union Budget for FY21-22, Sitharaman had proposed that two public
sector banks (PSB) would be up for strategic disinvestment in the next
fiscal along with IDBI Bank. One state-run general insurance company
will also be privatised in the coming fiscal.
