Highlights: Nirmala Sitharaman’s Address on Privatisation, Reforms & More

By Malvika Gurung — In her address at the Ashwamedh-Elara India Dialogue 2022, the Union Finance Minister Nirmala Sitharaman invited different industries to engage with the Government on various aspects of reforms, pressing that the next 25 years shall be very critical for India.

Regarding the privatisation of state-owned enterprises, the Finance Minister has clarified the Centre’s commitment to it and push reforms in the banking sector, taking cues from the IPO of the insurance behemoth Life Insurance Corporation (NS:) of India.

In the 2021-22 Budget, the Centre had proposed to privatise two public sector banks and a general insurance company.

Further, Sitharaman said, “Segments of industries are now willing to move to India. The government is working together with states to make sure they are brought in facilitated with a plug-and-play model. Industry response to PLI is positive”.

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