Losing Steam?
Business World India|February 25, 2023
The government's disinvestment programme, designed to free it from owning and running businesses, appears to have been put on the backburner
- Ashish Sinha
Losing Steam?

FEBRUARY 24, 2021. Speaking at a webinar on privatisation by the Department of Investment and Public Asset Management (DIPAM), Prime Minister Narendra Modi declared that the government has no business to be in business and his administration was committed to privatising all PSUs barring the bare minimum in four strategic sectors. “It is government’s duty to support enterprises and businesses. But it is not essential that it should own and run enterprises,” he said.

Adding that fiscal support to sick and loss-making PSUs using taxpayers’ money puts burden on the economy, the Prime Minister said there many underutilised and untilised assets in the public sector and 100 of these would be monetised to garner Rs 2.5 lakh crore.

He was speaking a few weeks after the budget, and, perhaps trying to justify the sale of public assets so far. For two consecutive years—FY18 and FY19—the government raised nearly Rs 2 lakh crore from disinvestment against a stated target of Rs 1.53 lakh crore. Then things changed. The global pandemic came amid already sluggish economic conditions of FY20. And then came the Russia-Ukraine conflict.

Lower Targets

Fast forward to Budget 2023-24. For the fourth year in a row the central government has failed to meet its own disinvestment targets. This time, the finance minister refrained from spelling out any targets for FY24. For FY23, the government managed to collect only Rs 31,100 crore through minority stake sale in state-owned PSUs, out of the Rs 65,000 crore disinvestment target kept for this fiscal. Therefore, for 2023-24, the budget has pegged disinvestment revenue at Rs 51,000 crore against Rs 65,000 crore announced for FY23.

この蚘事は Business World India の February 25, 2023 版に掲茉されおいたす。

7 日間の Magzter GOLD 無料トラむアルを開始しお、䜕千もの厳遞されたプレミアム ストヌリヌ、9,000 以䞊の雑誌や新聞にアクセスしおください。

この蚘事は Business World India の February 25, 2023 版に掲茉されおいたす。

7 日間の Magzter GOLD 無料トラむアルを開始しお、䜕千もの厳遞されたプレミアム ストヌリヌ、9,000 以䞊の雑誌や新聞にアクセスしおください。

BUSINESS WORLD INDIAのその他の蚘事すべお衚瀺
MEMORIES & IMPRESSIONS
BW Businessworld

MEMORIES & IMPRESSIONS

Ratan Tata was an exceptional human being. He was a visionary leader, esteemed industrialist, and a humanitarian, who left an indelible mark on India and the world.

time-read
3 分  |
October 19, 2024
The Robotaxi Market
BW Businessworld

The Robotaxi Market

The robotaxi market is shaping up to be a high-stakes battleground as tech giants and automakers race to transform urban mobility.

time-read
1 min  |
October 19, 2024
And the Nobel Prize Goes to AI
BW Businessworld

And the Nobel Prize Goes to AI

The recent Nobel Prize T awards to AI pioneers affiliated with Google have sparked a broader conversation about Big Tech's influence on research and the limitations of traditional prize categories.

time-read
1 min  |
October 19, 2024
Ola Electrified
BW Businessworld

Ola Electrified

Once considered a trailblazer in India’s electric vehicle (EV) ecosystem, Bhavish Aggarwal’s Ola Electric now faces a major accountability crisis.

time-read
1 min  |
October 19, 2024
Sharp Slide in Industrial Output on Eve of Deepavali
BW Businessworld

Sharp Slide in Industrial Output on Eve of Deepavali

India’s index of industrial production (IIP) saw a sharp reversal in August, contracting by 0.1 per cent, in stark contrast to the 4.7 per cent growth in July, mostly because of significant contractions in mining and electricity generation.

time-read
1 min  |
October 19, 2024
Heralding the Solar Era with Sustainable Electrification
BW Businessworld

Heralding the Solar Era with Sustainable Electrification

RAJEEV KASHYAP on the economics of solar power, the hurdles in scaling it, and much more

time-read
2 分  |
October 19, 2024
A WELL-GREASED MACHINE
BW Businessworld

A WELL-GREASED MACHINE

The OmniBook X14 laptop runs on first-generation Snapdragon X Elite, which bets big on Al-enabled productivity and battery life, but falls short when it comes to overall experience, says Deep Majumdar

time-read
4 分  |
October 19, 2024
DO NOT LETA HEALTH CRISIS RUIN YOUR FINANCIAL HEALTH
BW Businessworld

DO NOT LETA HEALTH CRISIS RUIN YOUR FINANCIAL HEALTH

For a family of four living in a metro, it is recommended to opt for a family floater health insurance plan with a sum insured of at least Rs 15-20 lakh

time-read
7 分  |
October 19, 2024
Disruption Ahead: Beyond Organisation Charts and Structures
BW Businessworld

Disruption Ahead: Beyond Organisation Charts and Structures

ALBERT EINSTEIN FAMOUSLY said, “We cannot solve our problems with the same thinking we used when we created them.

time-read
3 分  |
October 19, 2024
Dr. Rahul Shivajirao Kadam: A Visionary Leader Blending Sustainability, Innovation, And Social Empowerment
BW Businessworld

Dr. Rahul Shivajirao Kadam: A Visionary Leader Blending Sustainability, Innovation, And Social Empowerment

We are on the stage of global warming, and these technologies not only help prevent further damage but also leave behind a better environment for future generations.

time-read
2 分  |
October 19, 2024