07 FEB,2021 | MEDC
With stress laid on areas having high multipliers such as infrastructure, Budget 2021 envisages large private sector participation. Market forces have also been accorded due importance. The government has big spending ideas and is banking on privatization to bankroll its ambitious plan of economic revival. Necessity is the mother of invention, and the budget has taken a calculated risk. The budget makes a strong case for the government to monetize its assets and sell strategic stakes in PSUs. This thrust on privatization is not new, but the acid test of the success of the government’s plan will lie in its implementation. If the government is able to stand by its convictions, the potential rewards can be huge. But if that does not happen, we risk returning to the same old story – statements of good intent with nothing tangible to show at the end of the day. We cannot afford it any more. Privatization will provide a strong impetus to enhancing the level of risk taking ability in our economy. It must succeed.
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