It is disinvestment, not privatisation
It is disinvestment, not privatisation: If Thatcherite privatisation was about exiting business through a transfer of state assets and companies to private ownership, the new disinvestment policy Mr. Modi’s cabinet approved in February is...
This refers to Puja Mehra’s well-researched article “It is disinvestment, not privatisation” (The Hindu, Policy, May 12). Modi government is yet to receive the kind of support from different stakeholders including political leadership, bureaucracy and corporates, for effectively converting the Planning Commission (In his maiden Independence Day address on August 15, 2014, PM had lamented that the Planning Commission was a house in disrepair which he intended to rebuild as NITI Aayog), into the transformation agent that was heralded by the rechristening of the Commission as NITI Aayog.
It is time we start moving towards more transparency in the working of organisations dependent on public funds (When I refer to ‘public funds’, I have in mind resources belonging to the public including funds/capital mobilised by private sector organisations including corporates and religious/charitable bodies). NITI Aayog can play a proactive role by providing guidance for better Asset-Liability-Management approach in managing nation’s resources.
Besides policy guidance down to village level, this will need legislative changes and a total revamp of planning apparatus and an effective regulatory and audit system for overseeing the funds management by all agencies which have access to public funds.
M G Warrier,