Sonia Gandhi slips in attack on PSU sales while slamming BJP over Maharashtra politics

Attacking Prime Minister Narendra Modi, on Thursday, for the sale of Public Sector Undertakings (PSU), Congress interim-chief Sonia Gandhi stated that the Centre was selling off 'Profit making PSUs' to Narendra Modi's friends alluding to private businessmen. This comment comes a week after  Congress staged protests in Lok Sabha against privatisation of a few PSUs. Congress' Sanjay Singh too has stated that the policies of disinvestment pose a great risk over employment in the nation in the Rajya Sabha on Thursday. Sonia Gandhi also slammed the BJP over Maharashtra.

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Congress protests in Lok Sabha

Lok Sabha MPs Adhir Ranjan Choudhary and Manish Tewari gave an adjournment motion notice in the Lower House over the Centre's decision to disinvest Public Sector Undertakings (PSUs) on November 22. The Centre aims at raising a certain amount from the sale of state firms in the current fiscal year, which could help bridge the budget gap goal, according to ANI. The Centre's budget gap goal is reportedly at risk due to slow revenue collection limiting the government’s ability to spend on infrastructure and welfare programs.

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Centre approves sale stake in 5 PSUs

Finance Minister Nirmala Sitharaman announced on November 20, that the Cabinet has approved sale of government's stake in five blue-chip PSUs. The companies include Bharat Petroleum Corp Ltd (BPCL), Shipping Corp of India (SCI) and Container Corp of India along with transfer of management control.

Cabinet approves sale of stakes in BPCL, 4 other PSUs

The government will sell its 53.29 per cent stake in BPCL after taking out Numaligarh refinery from its portfolio, she told reporters. Besides, the government will sell its stake in THDC India and North Eastern Electric Power Corporation Ltd (NEEPCO) to state-owned NTPC Ltd, she said. Finance Minister said the Cabinet has also approved cutting government's stake in select PSUs below 51 per cent while retaining management control.

(With Agency inputs)