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Principal economic advisor Sanjeev Sanyal defended privatization, said- most of the government companies were formed by the private sector.

Principal economic advisor Sanjeev Sanyal defended privatization, said- most of the government companies were formed by the private sector.

The presence of the government in strategic areas will be minimal.

Principal Economic Adviser Sanjeev Sanyal has defended the privatization policy of the government. Sanyal said on Saturday that all the public sector undertakings that the government intends to sell were actually set up by the private sector. He said, “The opposition says that these undertakings are the result of the hard work of the public sector. In such a situation, I would like to make it clear that all the undertakings that are being attempted to be privatized were actually constructed by the private sector itself.

Giving examples, he said that Air India was withdrawn from the private sector and nationalized in 1953. Sanyal said in the ‘India Today Conclave’, “Similarly, banks were withdrawn and nationalized in 1969. In such a situation, when people say that the hard work of Indian officials is behind the creation of these institutions, then I would like to tell one thing that they were actually built by private sector companies. Strategic and non-strategic areas have been outlined for the purpose. The presence of the government in strategic areas will be minimal.

Government will not hesitate to form a new public sector company

Sanyal said, “The government will not hesitate to set up a new public sector unit where it is needed.” Giving the example of the formation of Development Finance Institute (DFI), Sanyal said that the government has recently started funding infrastructure and development. National Bank for (NABFID) has been created. Through this, large infrastructure projects will be financed. Referring to the banking sector, he said that it is a strategic sector and the government’s presence will continue in it.

Air India handed over to Tata in a transparent manner

Regarding handing over of Air India to Tata, Sanyal said that there has been complete transparency in the bidding process. Under the entire process, the Tata Group made the highest bid for Air India, after which it has been handed over to them. If anyone is raising questions about this, then would like to tell them that if they had made a consortium and bid for more than 18000 crores, then Air India would have been theirs.

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Shehnaz Ali
Shehnaz is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing about Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.

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