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Though the New Economic Policy was well enunciated, it still needed to be implemented.
The first to go were old, ailing, public sector units that took away a huge chunk in salaries and were unproductive. They were a drain, but only now did the government act.
The Disinvestment process was set in place, first by having a department in the Finance Ministry, and then as a separate ministry in the NDA government. The brief: Sell PSUs and raise funds. The UPA government scrapped the Disinvestment Ministry but there’s no going back. Even the Left parties have begun talking of ‘restructuring’ PSUs, an admission that all was not well.
Though the New Economic Policy was well enunciated, it still needed to be implemented.
The first to go were old, ailing, public sector units that took away a huge chunk in salaries and were unproductive. They were a drain, but only now did the government act.The Disinvestment process was set in place, first by having a department in the Finance Ministry, and then as a separate ministry in the NDA government. The brief: Sell PSUs and raise funds. The UPA government scrapped the Disinvestment Ministry but there’s no going back. Even the Left parties have begun talking of ‘restructuring’ PSUs, an admission that all was not well.
Now with the CPM also referring to the private sector with fondness, the days of PSU behemoths seem to be a distant memory.
Source :- IIPM Editorial, 2006
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