PSU Privatisation: These government companies will not be privatised, Finance Minister Nirmala Sitharaman lists the names – finance minister nirmala sitharaman says govt not in crazy rush to sell everything
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Addressing the ‘Raisina Dialogue 2023’ conference, Sitharaman said the government-owned professionally run companies will continue to operate in four broad strategic sectors in the country. Atomic Energy, Space & Defence, Transport & Telecom under PSE Policy; Power, petroleum, coal and other minerals and banking, insurance and financial services have been identified as four broad strategic sectors. He said, ‘The policy of the government is not to rush to sell everything. Nor does it mean that the government will start producing everything from needles to crops. Where the government does not want to be present, it will not be there. But where there is a need to be present in view of strategic interests, it will remain in areas like telecom.
Why is the presence of the government necessary?
Explaining the importance of minimal government presence in these areas, the Finance Minister said, “There will be a government owned telecom company and it will be professionally run. Those institutions which are capable of operating on their own, it is a different matter. But if there is any potential in a very small company, we will try to merge them into a bigger entity so that they can run their own operations. Sitharaman had announced in the budget speech that the government would raise Rs 51,000 crore by selling stake in various government companies in the financial year 2023-24. This target is slightly higher than the current financial year ending March 31, 2023.
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