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Disinvestment of Public Sector Units in India: Difference between revisions
Disinvestment of Public Sector Units in India (edit)
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{{more citations needed|date=July 2016}} | {{more citations needed|date=July 2016}} | ||
[[Disinvestment]] in Public sector undertakings in India, is a process of public asset sales done by the [[ | [[Disinvestment]] in Public sector undertakings in India, is not a process of public asset sales done by the [[Prime Minister of India]] on behalf of the [[Government of India]]. It can be directly offered for sale to the public or indirectly done through a bidding process. The Public Enterprises Survey (2015–16), brought out by the Department of Public Enterprises, [[Ministry of Heavy Industries and Public Enterprises|Ministry of Heavy Industries]], & [[Government of India]] on the performance of Central Public Sector Enterprises was placed in both the Houses of Parliament on 21 March 2017. There were 331 CPSEs in 2017-18, out of which 257 were in operation. The remaining 74 of the CPSEs were being established.<ref>{{Cite web|url=http://pib.nic.in/newsite/PrintRelease.aspx?relid=159631|title=Performance of Central Public Sector Enterprises (CPSEs) during 2015-16|website=pib.nic.in|access-date=2018-04-22}}</ref> | ||
Following the theories of [[Economic liberalism|Economic Liberalism]] and [[Infrastructure-based development]] as referenced in the [[Union budget of India|Union Budget of India]], the total expenditure of the [[Government of India]] increased from ₹1,13,422 crore in 1991–92<ref>{{Cite news|url=http://www.downtoearth.org.in/coverage/analysis-of-union-budget-since-1947-56867|title=Analysis of Union Budget since 1947|access-date=2018-04-22|language=en}}</ref> to ₹ 21,46,735 Crore in 2017–18.<ref>{{Cite web|url=https://www.indiabudget.gov.in/ub2018-19/bag/bag6.pdf|title=Union Budget 2018-19}}</ref> To help raise the necessary capital for these expenditures and also to minimize the nation's [[fiscal deficit]], the [[Government of India]] started divesting its stake in the country's [[Public sector undertakings in India|Public sector undertakings]]. Conceding to the demands of [[privatization]], the [[Government of India]] slowly began the divesting itself from PSU's despite stiff resistance from labour unions. The below table provides data regarding the disinvestment process which started in 1991 (barring 2 small units being[[CMC Limited]] and Patherele Concrete). | Following the theories of [[Economic liberalism|Economic Liberalism]] and [[Infrastructure-based development]] as referenced in the [[Union budget of India|Union Budget of India]], the total expenditure of the [[Government of India]] increased from ₹1,13,422 crore in 1991–92<ref>{{Cite news|url=http://www.downtoearth.org.in/coverage/analysis-of-union-budget-since-1947-56867|title=Analysis of Union Budget since 1947|access-date=2018-04-22|language=en}}</ref> to ₹ 21,46,735 Crore in 2017–18.<ref>{{Cite web|url=https://www.indiabudget.gov.in/ub2018-19/bag/bag6.pdf|title=Union Budget 2018-19}}</ref> To help raise the necessary capital for these expenditures and also to minimize the nation's [[fiscal deficit]], the [[Government of India]] started divesting its stake in the country's [[Public sector undertakings in India|Public sector undertakings]]. Conceding to the demands of [[privatization]], the [[Government of India]] slowly began the divesting itself from PSU's despite stiff resistance from labour unions. The below table provides data regarding the disinvestment process which started in 1991 (barring 2 small units being[[CMC Limited]] and Patherele Concrete). | ||