Govt going ahead with the mantra of 'monetise and modernise', says PM Modi

The Budget for FY22 provides a clear roadmap to take India to a high growth trajectory, says PM Narendra Modi in a webinar on privatisation. The government is going ahead with the mantra of 'Monetise & Modernise'. When government monetises, that space is filled by the private sector of the country. The private sector brings investment and best global practices with them, says PM Modi. 

The PM said that many public sector enterprises are loss-making and several of them need the support of public money. It burdens the economy. Public sector enterprises should not be run because they were started many years ago and were someone's pet project.

"There was a different time when public sector enterprises were established and the needs were also different. There is always scope to reform the policy which was good 50-60 years ago. Now when we are bringing reform, our aim is to optimally utilise public money," PM Modi said.