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Privatisation of loss-making firms gets Centre's nod

Privatisation of loss-making firms gets Centre
Highlights

India is open to privatisation of certain loss-making public sector companies, Finance Minister Arun Jaitley said on Thursday.

India is open to privatisation of certain loss-making public sector companies, Finance Minister Arun Jaitley said on Thursday.

"Certainly I would be interested to look at some PSUs (which) could do much better in private hands," Jaitley said during an interaction at the World Economic Forum in New Delhi, referring to public sector undertakings.
Jaitley also said the government will soon unveil reforms for other natural resources sectors along the lines of coal block auctions.

Highlights of the discussion at World Economic Forum Summit:
  • Retrospective tax amendment was a bad idea that damaged the economy
  • No step should be taken which sends a contrary signal, must pursue in one direction which present Government is doing
  • Investors are now beginning to get convinced, India will once again be a place to invest in
  • We welcome large investment participation, even international participation in area of infrastructure.
  • Railways was closed to private sector investment, let alone foreign
  • Our trade facilitation commitment is nt bcoz of multi-lateral arrangement,but a commitment as a developing economy.
  • If initial experiments succeed will enable us to open up more
  • Our trade facilitation commitment is nt bcoz of multi-lateral arrangement,but a commitment as a developing economy
  • Current Govt sent clear signal that we are willing to speak with Pak, we invited the head of Govt to India at swearing of Govt
  • Govt sent clear signals that it is willing to speak to Pakistan, normalise relations; but there are red lines
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