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"It is government's duty to support enterprises and businesses. But it is not essential that it should own and run enterprises," Modi said. Stating that the government has no business to be in business, Prime Minister Narendra Modi said Wednesday 100 assets have been selected as part of the Centre’s move towards asset monetisation and privatisation. He said his administration is committed to privatising all public sector undertakings (PSUs) barring the bare minimum in four strategic sectors.
“It is the responsibility of the government to give full support to the enterprises of the country, to the businesses, but it is not necessary that the government itself should run the enterprises. That’s why I say, the government has no business to be in business,” Modi said while addressing a webinar on privatisation held by the Department of Investment and Public Asset Management (DIPAM).
The government has many underutilised and unutilised assets and 100 assets would be monetised to garner Rs 2.5 lakh crore, the Prime Minister added.
He said the Centre’s policy is to either monetise or modernise public sector enterprises, with the intent that the government has “no business to be in business”.