Opposition Raises Concerns Over Aggressive Disinvestment, Asset Monetisation Plan

Opposition members within the Lok Sabha on Thursday raised considerations 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 stated eight ministries have lined up asset monetisation plan and the federal government’s stake in LIC can be being diluted. “I understand a certain amount of disinvestment is the need of the hour, considering that we are in the global game. But aggressively? Why is the Government in such a hurry for eight ministries… which are all in a lucrative business and also LIC… That is a concern,” she stated.

Minister of State for Finance Anurag Singh Thakur stated the Life Insurance Corporation (LIC) is just not 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 advised that it could possibly be merged with SAIL. He stated that Rashtriya Ispat Nigam Limited (RINL) has clocked Rs 200 crore revenue earlier than COVID-19 and advised that the Centre and the Andhra Pradesh state authorities may work out a technique to flip it worthwhile once more.

The Union Cabinet in January had authorized 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 method and therefore nobody is shopping for Air India.

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