All sectors will be open for private sector: Nirmala Sitharaman plays the big shot on Day 5

As part of Atmanirbharbharat scheme, the finance minister Nirmala Sitharaman, made an announcement that all private sectors will be allowed in all sectors in the country. In the sectors, where there are more than four public sector enterprises (PSEs), she stated, there will be a merger.

She added this decision to increase participation of private players is part of the coherent policy to make India self-sufficient. The Union Minister said, “Public sector will continue to play an important role in defined areas.”

Sitharaman added, “We will define the bareas where their presence will be impactfully felt.”

The government will announce a new policy soon to permit private players into areas where public sector enterprises are heavily present or have a monopoly. She added that the list of strategic sectors requiring presence of PSEs in public interest will be notified. “In strategic sectors, at least one enterprise will remain in the public sector but private sector will also be allowed. In other sectors, PSEs will be privatised.” But this move is subjected to timing that is based on feasibility, among other things.

This decision is made to minimise wasteful administrative costs, and bring down the number of public sector enterprises in strategic sectors and other areas

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