In February 2021, Prime Minister Narendra Modi made a strong pitch for selling the government’s equity stakes in non-strategic public sector units (PSUs), saying sustaining loss-making enterprises on taxpayers’ money drained resources that could have been spent on public welfare.
“The government has no business to be in the business,” he said. “Modernise and monetise is the motto we will follow.”
Soon after, the government unveiled a disinvestment pipeline featuring Air India, Container Corporation of India (Concor), Central Electronics, BPCL, and IDBI Bank. The beleaguered national carrier is now owned by the Tata Group and is creating ripples with its large order of planes and frenetic hiring of pilots. But there is not much to report on the progress with