New Delhi (NVI): Asserting that it is the responsibility of the government to give full support to the enterprises of the country, Prime Minister Narendra Modi today said that at the same time, “the Government has no business to be in business”.
“…the responsibility of the government to give full support to the enterprises of the country but at the same time, the Government has no business to be in business,” PM said while addressing a webinar on effective implementation of Budget provisions regarding disinvestment and asset monetization.
During his address, PM Modi batted for the privatisation of state-run companies while inviting the private sector for investments in India’s asset monetisation plans.
“The government has many underutilised assets and those would be monetised to garner Rs 2.5 lakh crore,” he said.
He said that the focus of the Government should be on the welfare of the people and on the development related projects, adding that the Government works with several limitations and hence it is not easy to take commercial decisions.
He said that the effort of our government is to improve the standard of living of the people, besides reducing the government’s unnecessary interference in the lives of the people.
He added that there should be no lack of government or influence of government in life. “There are a lot of underutilised and unutilized assets in the country and the National Asset Monetisation Pipeline was announced with this in mind,” he said, adding that the Government is going ahead with the mantra of ‘Monetise & Modernise’ and when the Govt monetises, that space is filled by the private sector of the country. He added that the private sector brings investment and best global practices with them.
Apart from that, the PM said that this year’s budget has put forward a clear roadmap to take India back to the high growth trajectory. He added that the budget also focuses on the strong contribution of the private sector in India’s development.
The PM also stressed on the importance of Disinvestment and Asset Monetization. He said the time and needs of the country when the public sector enterprises were started were different from today, adding that the biggest goal of these reforms is to properly utilize the public money.
“Many Public sector enterprises are loss making and are supported by taxpayers’ money and due to this the economy is also burdened. Public sector enterprises need not be kept running just because they’ve been running for so many years,” he said.
The PM said that the Government is going ahead with the mantra of ‘Monetise & Modernise’ and when the Govt monetises, that space is filled by the private sector of the country. He added that the private sector brings investment and best global practices with them.