(a) whether it is a fact that many companies have been privatized by the Government in the country; and
(b) if so, the details thereof along with the number of companies proposed to be privatised and the reason therefor?
(a) whether it is a fact that many companies have been privatized by the Government in the country; and
(b) if so, the details thereof along with the number of companies proposed to be privatised and the reason therefor?
THE MINISTER OF STATE IN THE MINISTRY OF FINANCE
(SHRI ANURAG SINGH THAKUR)
(a) & (b) Government has given ‘in-principle’ approval for Privatisation of 24 CPSEs including Subsidiaries, Units and Joint Ventures with sale of majority stake and transfer of management control.
Government follows a policy of strategic disinvestment of CPSEs, which are not in ‘priority sectors’ For this purpose, NITI Aayog has been mandated to identify such CPSEs based on the criteria of (i) National Security; (ii) Sovereign function at arm’s length, and (iii) Market Imperfections and Public Purpose.
Strategic disinvestment of CPSEs is being guided by the basic economic principle that Government should discontinue in sectors, where competitive markets have come of age and economic potential of such entities may be better discovered in the hands of strategic investor due to various factors such as infusion of capital, technological upgradation and efficient management practices; and would thus add to the GDP of the country.
***