A FULL SCALE POWER SHIFT IS TAKING PLACE FROM PUBLIC TO PRIVATE SECTOR
Anil Rajimwale
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2021-02-04 15:57
For the first time in independent India, a full-scale power-shift from public sector to financial private sector has been unleashed, crowning the trend particularly since 2016. Corona has knocked the bottom out of the economy, yet financial business has grown fatter. Productive capitalists, MSMEs, small traders and shopkeepers, workers, peasants, business persons, industrialists, have lost heavily, yet a handful of big corporate business has gained. Trends of forced disintegration of PSUs are clearly discernible: they are being disinvested in all sectors for the first time, except four areas. Rs 1.75 lakh crore sale target has been fixed for 2022. In a dramatic break from the past, government has announced privatization of at least two state-run banks and a general insurance company.