Niti Aayog Vice-Chairman Rajiv Kumar has asserted that the Union Budget lays the foundation for the country's long-term growth in the next 25 years. Kumar said the government is taking all possible measures to ignite private investments, which will be the best bet to pull the economy out of the shadows of the coronavirus pandemic.
He also said the procedural bottlenecks related to the complicated process of disinvestment of CPSEs (central public sector enterprises) have been solved and the process will be more streamlined in the years to come. Further, regarding the government not achieving its disinvestment target year after year, he said the reason seems to be the complicated process of privatisation.
Noting that Air India was privatised after many years, he said that ‘I think, now we have solved all those procedural bottlenecks. And, the process is now well defined.’ Besides, he said the process will be more streamlined in the years to come. The government has set a disinvestment target of Rs 65,000 crore for the next financial year, which is lower than the current fiscal's estimated mobilisation of Rs 78,000 crore.
