Cabinet to consider wide-ranging reforms of PSUs

Telegraph India

October 22,2020

The cabinet is set to consider wide-ranging reforms of PSUs, while the government is looking to extend the production-linked incentive (PLI) scheme to 7-8 more sectors, department of economic affairs secretary Tarun Bajaj said on Wednesday.

In May, the government had promised sweeping PSU reforms but these have not made much headway.

The plan envisages the government defining strategic sectors in the economy where there will be a minimum of one PSU and a maximum of four state-owned entities, apart from private players. State entities in the non-strategic sectors will be privatised.

“The other important thing which is slightly delayed... and it is testing the patience of all of you and ours too. It is the policy that we have to come up with for the privatisation of our public sector units,” Bajaj told a CII seminar. 

“Though it is an open secret, but till it gets the stamp of the cabinet we are not satisfied about it. It should happen very soon. So that is a major step in the making.”

He said the government was expanding the PLI scheme in response to the positive feedback from industry.

The government recently announced the PLI scheme for mobiles, pharma products and medical equipment sectors.

“I have a lot of confidence and hope on the PLI scheme that we have brought out for mobile phones and others. In the offing are about 7-8 sectors where the PLI scheme would be extended,” Bajaj said.

The PLI scheme, unlike other schemes, is an outcome- and output-oriented programme where manufacturers get cash incentives in over 5-7 years for production.

“So, the kind of response that we received on the mobile phones scheme where we have finalised the contours gives me a lot of confidence that there is demand in the world now, to have a diversification of supply chains, and we can take advantage,” he said.

He said the government was working on another round of stimulus measures amidst positive signs of a fall in the number of Covid-19 cases. The government has received suggestions from various ministries and sectors on the necessary measures.

https://www.telegraphindia.com/business/cabinet-call-on-psu-privatisation/cid/1795364


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