Not possible to remain the owner of many CPSEs, should focus on public welfare: PM Modi

New Delhi: Coming Back on the privatisation process, Prime Minister Shri Narendra Modi on Wednesday address the webinar on privatization and asset monetization, attended by the top investor bankers, sovereign and pension funds as well as domestic and international investors.

Prime Minister is now focusing on more public welfare and development rather than being owners of CPSEs, the main motive is a high-growth trajectory and makes a roadmap to put the economy on growth. With the mantra of ‘monetize and modernize’, PM also announced investment opportunities worth Rs 2.5 trillion in the national asset monetization pipeline outlined in the Union budget, through the sale of around 100 assets of central public sector enterprises (CPSEs).

Speaking on the FY22 budget Modi said “There are many public sector enterprises which are loss-making. Many of them need to be supported through taxpayers’ money. The money on which poor and youth have the right is spent on these enterprises and because of this, the CPSEs also prove to be a burden on the economy.”