Opposition Raises Concerns Over Aggressive Disinvestment, Asset Monetisation Plan

Opposition members within the Lok Sabha on Thursday raised issues over the federal government’s “aggressive” disinvestment and asset monetisation plan. Participating in a dialogue on Supplementary Demands for Grants Second batch for 2020-21, Supriya Sule of NCP mentioned eight ministries have lined up asset monetisation plan and the federal government’s stake in LIC can also be being diluted. “I perceive a specific amount of disinvestment is the necessity of the hour, contemplating that we’re within the international sport. But aggressively? Why is the Government in such a rush for eight ministries… that are all in a profitable enterprise and in addition LIC… That is a priority,” she mentioned.

Minister of State for Finance Anurag Singh Thakur mentioned the Life Insurance Corporation (LIC) isn’t being privatised and an Initial Public Offering (IPO) is being deliberate. Margani Bharat of the YSRCP requested the federal government to not go forward with the privatisation of Vizag Steel Plant or RINL and urged that it could possibly be merged with SAIL. He mentioned that Rashtriya Ispat Nigam Limited (RINL) has clocked Rs 200 crore revenue earlier than COVID-19 and urged that the Centre and the Andhra Pradesh state authorities may work out a method to flip it worthwhile once more.

The Union Cabinet in January had permitted the strategic sale of RINL. Saptagiri Ulaka of the Congress alleged that though the federal government was hell-bent on disinvestment and units excessive targets, it would not have a technique and therefore nobody is shopping for Air India.

The authorities estimates to lift Rs 32,000 crore from PSU stake sale within the present fiscal. For the subsequent monetary yr, the goal is pegged at Rs 1.75 lakh crore. Participating within the dialogue, Vinayak Raut (Shiv Sena) mentioned that rising costs of petrol and diesel have made the widespread man’s life tough and demanded to know what steps have been taken to manage inflation.