Public Sector Policy Is Not A Crazy One, Govt Is Not Selling Out Everything: Finance Minister Nirmala Sitharaman

Finance Minister said, we had announced core sectors, 4 of them, and in that, we said there will be at least a minimum presence of the government but even they have been open for the private sector

"There is no sector in India that is not available for the private sector to be in and function," Nirmala Sitharaman said.

Source : Twitter/NSitharamanOffice

Finance Minister Nirmala Sitharaman on Saturday said that public sector policy is not a crazy one, the government is not selling out everything, adding that the Opposition fully understands the meaning but still says that we are selling them off. We are not selling them off. 

Speaking at the Raisina Dialogue 2023 in New Delhi, Nirmala Sitharaman, as quoted by ANI said, "There is no sector in India that is not available for the private sector to be in and function. Public sector policy is not a crazy one, the government is not selling out everything. Opposition fully understands the meaning but says we are selling them off. We are not selling them off."

Talking about government strategies on public sector units, Finance Minister said that we had announced core sectors, 4 of them, and in that, we said there will be at least a minimum presence of the government but even they have been open for the private sector. There is no sector not available now for the private sector to be in or function. 

Nirmala Sitharaman further said that when we say a minimum presence in the core sector we mean the institution that is big enough to run on its own steam will be there but if there are others that are very small or unsustainable or scalable if there is a possibility we can blend them with bigger units the government will try to do that.

She added that It's not that govt is running out and selling everything and it's not like we are doing everything on our own. 

Nirmala Sitharaman also talked about the government's flagship Atmanirbhar Bharat, She said, "Atmanirbhar Bharat is about manufacturing in India. This does not automatically mean higher futures in imports. The former is not a protectionist measure."

"We have the right combination of things that matter for a growing economy--a middle class, captive market with purchasing power, tech-driven public investment & products. Digital infrastructure exists. Rule of law is also key," Finance Minister said. 

She also added that the way we responded to the pandemic and the necessity of sustaining growth has worked out really well.

Talking about India's G20 presidency, Sitharaman said, "There are several ministers who are part of the G20 who have been speaking of friendshoring. India, today, is the destination for businesses."

"India has been talking about how multilateral institutions need reform. We have an expert panel on how multilateral development institutions should respond to 21st century challenges," Sitharaman added.