A day after Prime Minister Narendra Modi said the "government has no business
A day after Prime Minister Narendra Modi said the “government has no business to be in business”, India Inc on Thursday said privatisation except in strategic sectors would unleash exciting opportunities, boost investments in infrastructure and create jobs.
However, the industry called for an effective implementation of road map towards privatisation and asset monetisation, cautioning that regulatory and legal hurdles should not derail the process.
FICCI President Uday Shankar said senior government functionaries and other officials responsible for the execution of the programme would adopt a highly cautious approach in case they are not insulated from the outcome of their bona fide decisions.
“Wisdom gained in hindsight should not be used to question the judgement of the decision-takers and such officers should be offered protection for their action done in good faith,” he said.
The FICCI president emphasised that the quality of the asset is as important as the credibility of the process. In addition to…