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'Monetise & modernise' is our motto: PM on disinvestment
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SME Times News Bureau | 24 Feb, 2021
Reiterating the government's commitment towards privatisation of PSUs
and asset monetisation, Prime Minister Narendra Modi on Wednesday said
that the motto of his government is to "monetise and modernise".
Addressing
a webinar on the Budget announcements for Department of Investment and
Public Asset Management (DIPAM), the Prime Minister asked the private
sector to come in support of the government's initiatives proposed in
the Budget and help it prepare the roadmap for accelerated growth.
Emphasising
on the role of private sector, he said that the Budget also focused on
the strong partnership between the private players and the Centre.
"When the government monetises, private sector comes in, along with investment and best global practices," he said.
The
funds mobilised through asset monetisation and disinvestment will be
used for public welfare measures, he said. He added the Budget has
targeted monetising 100 government assets, which would create investment
opportunities worth Rs 2.5 lakh crore.
Modi further said that
the new policy will go a step ahead from annual disinvestment target and
will take a medium-term strategic approach and help in selection of
individual companies. This will create a clear roadmap for investment,
as per the Prime Minister.
Observing that the government's role
is to encourage business enterprises and not to become its owner, he
said: "The government has no business to be in business."
He said that the government has to focus on development projects and welfare of the people and should be away from businesses.
The
Prime Minister's address comes at a time when the government has
re-strategised its disinvestment and asset monetisation policies with
clear focus on privatisation.
Modi said that the Budget for FY22 has outlined a clear roadmap for India to move on the "high growth trajectory".
His
emphasis on the privatisation policy also gains significance as the
renewed push for disinvestment and asset monetisation has received
criticism from the opposition who have termed the move as "selling the
family silver".
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