Its Nationalist approach of Modi Government
In Modi Government, there always has been one issue that keeps on bothering leftists and the rest of the Modi Haters, i.e. Privatisation of Public Sector Undertakings. If not Air India, then BPCL soon to shift into Private hands. Initially, the Government of India made a mind to sell Air India after it suffers a debt of Rs 60,000 crore. Since it is a prestige issue for GOI so it is still an issue but certainly not an important issue so far.
Air India Privatisation could soon wear a true slap after a lot of criticism from left and right. Modi Government who is so popular for selling the Public Sector Undertakings shifts its paradigm to Bharat Petroleum Corporation Limited (BPCL) other than Air India. Yes, BPCL soon going to be in hands of Private entrepreneurs. Though, it has been a far cry from the times of the Vajpayee regime that launched the setup for Privatisation that now is paralleling the power as equal to the government. In the regime of Vajpayee, it was Arun Jaitely who was known to be a base for Public Sector Disinvestment. It strengthens the belief when PM Modi said in an interview that his government has no business to be in business.
Though, there is no second doubt that Modi Government is just following the footsteps of its predecessor i.e. UPA Government, which has diluted shareholdings in many PSUs, just for the sake of raising revenue targets. The NDA has taken a step ahead in this process by buying shareholding of a profitable company. Giving an example to this, ONGC is asked to buy the Government stakes in HPCL for Rs 36,915 crore. Though, none of the public sector company has yet been privatized so far which disappoint those who are expecting this government to bring economic reforms.
Since now the sale of Air India and BPCL is so imminent, so this is an expectation from the government to dispose of many other loss-making public sector enterprises. Many people take it in negative notion though it clearly means that the government is intended to make profits and wish to bring economic reforms to the country. As per the official data till March 2019, there has been an estimated loss of Rs 31,000 crore so far as incurred by these companies and the Cabinet has dot down the defunct 23 companies for further privatization, like Scooters India Limited and political pressures, let these companies survive over the years just for the sake of fake prestige issues.
This is an itchy question that why these companies have been surviving for so long despite being unproductive and defunct for so long years. The Answer stops at Workers’ interest and welfare but it has to be resolved by adopting the measures of Voluntary Retirement Schemes.
Such a kind of offer was given to BSNL workers and a number of BSNL employees took the VRS, hence it has been proved that taking steps towards the rehabilitation of workers could bring the company profit while adopting and participating in Public-Private Partnership.