“The government has “No business” to be in business”

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“The government has “No business” to be in business”

The Department of Investment and Public Asset Management (DIPAM) conduct a webinar on privatisation. Prime Minister Narendra Modi spokes on the meeting, “It is the government’s duty to support enterprises and businesses. But it is not essential that it should own and run enterprises. There was a different time when public sector enterprises were established and the needs were also different.

“There is always scope to reform the policy which was good 50-60 years ago. Now when we are bringing reform, our aim is to optimally utilise public money,” he added.

“We cannot continue with public entities just because they have been operational for so long. The government’s focus should be on the welfare of society and policies related to people. It sounds like misusing the talent of our officers to keep them in the business operation of public entities.”

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“Our focus is to monetize and then modernize. The private sector brings modern technology, a change in the management mindset and creates more efficient jobs. This can increase in efficiency of the system,” said Prime Minister Narendra Modi during the webinar.

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