Earlier this month, the Tata Group emerged as the winning bidder for Air India, the debt-laden national carrier. In this year’s Budget, the government unveiled a bold new disinvestment policy that envisages a bare minimum presence of government-owned businesses even in the strategic sectors. The government is also pursuing the sale of its entire stake in public sector firms such as BPCL, Shipping Corporation of India, IDBI Bank, two other public sector banks and one general insurance company this financial year. Given India’s recent disinvestment record, this is an ambitious target.
Here we discuss the implications of the sale of Air India on the future of India’s public sector.
Guests: Arvind Mehta was Secretary to the Fifteenth Finance Commission and also served in the Department of Disinvestment in two separate stints; Ashok Chawla served as Permanent Secretary to the Government of India in Ministries such as Civil Aviation and Finance and retired recently as Chairperson of the Competition Commission of India
Host:
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