Amitabh Kant, the CEO of NITI Aayog, was quoted as saying to CNBC18 that pushing public sector disinvestment will greatly benefit the Government in the long run. He said that it is important that the government conducts disinvestments in a transparent and competitive manner.
Talking prior to the release of the Economic Survey 2018-19 and the Budget 2019 presentation by Union Finance Minister Nirmala Sitharaman, he said that NITI has recommended more than 50 enterprises in the public sector for disinvestment and will recommend many more in the future. He said that the cabinet had approved 35 public sector companies for disinvestments.
Kant said that along with pushing savings and investments, driving exports with the domestic markets is also very critical for the economy. He said that the government needs to drive the sunrise areas in the industry such as battery storage and electric mobility.
He also added that with rising investment levels, credit flow can be kick-started by introducing many brownfield projects, such as airports, in many more sectors with different models.
Amitabh Kant is the Chief Executive of National Institution for Transforming India (NITI) Aayog, a policy think tank of the Government of India.
Published 04 July 2019, 08:27 IST