TN CM Stalin writes to PM Modi, urges to reconsider National Monetisation Pipeline

Channelling his disagreement with the National Monetisation Pipeline (NMP), Tamil Nadu Chief Minister MK Stalin on Friday wrote to Prime Minister Narendra Modi urging him to reconsider the newly proposed plan. The Tamil Nadu CM said that the move would transfer valuable state assets to the control of a few groups. Stalin went on to claim that it is just another plan for privatisation with a different name.

Appealing to the PM to reconsider the move, Stalin said that the decision must be taken with due consideration to the states’ opinions. "The Union Government could take privatization decisions only after consulting the State governments as well as those connected with the Public Sector Undertakings," the CM said in the letter addressed to PM Modi.

"Public Sector Undertaking is an asset of people and many of them play a key role in sustaining India as an industrialised and self-reliant country. Not only States, but people had also given lands for establishing these PSUs. So, they have rights over these PSUs. Whatever be the name given to the privatisation move by Union Government, this move would only make way for these invaluable public assets going under the control of corporate houses or to a few groups," Stalin further added.

FM introduces National Monetisation Pipeline

Finance Minister Nirmala Sitharaman announced the NMP, which includes the Centre's four-year plan to monetise its brownfield infrastructure assets, last month. The FM had suggested the implementation of the NMP plan in the previous year’s budget. She stated that the current budget was in line with the ongoing COVID-19 pandemic and the economy had a serious challenge. She said that this challenge was taken as an opportunity for economic revival.

Laying out this Rs. 6 lakh crore plan to monetise infrastructure assets across sectors from rail to the road to power, Sitharaman said, "This pipeline will only include brownfield assets owned by the government and will not include land assets of the government." The ownership of the brownfield assets will remain with the government and a mandatory handback of assets at a stipulated time will be assured. The Finance Minister said, "This will unlock the resources of the economy and this is what we want." 

Leaders oppose ‘selling of assets’

Following the introduction of the monetisation plan, many leaders and Opposition parties have come forward against the same. Former Congress president Rahul Gandhi hit out at the plan claiming that the BJP government was "selling" everything that the UPA government "helped build" over 70 years. Meanwhile, former Karnataka Chief Minister Siddaramaiah and RJD leader Tejashwi Yadav also slammed the Centre for the move and said that the PM is handing the country’s assets to the corporates with such plans.  

(With ANI Inputs)
(IMAGE: PTI)