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Business EconomyPosted at: Dec 9 2022 7:02PM


Privatisation along with asset monetisation will help trigger investment cycle: Official

New Delhi, Dec 9 (UNI) Privatization along with asset monetization will help trigger investment cycle, unlock economic potential and bring private sector to the forefront, Tuhin Kanta Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM), Ministry of Finance, said on Friday.

He said, “In the context of macroeconomic stability, we need investments in infrastructure, manufacturing activity, agriculture, human capital, health, education and skills.”

Speaking at the Global Economic Policy Summit 2022 organized by CII here, he said to ensure investments cycle back, it is crucial to ensure macroeconomic stability by being mindful of fiscal deficit as well as current account deficit.

Pandey said while focusing on CapEx is imperative, it is equally important to enhance competitiveness and productivity.

Elucidating on divestment which encompasses handing over responsibility to private sector, Pandey said, “The private sector should be able to raise productivity to get better value for money from the same investments. This is the key and the examples of successful disinvestments such as Air India and Neelachal Ispat Nigam Ltd., have shown us a turnaround.”

While elaborating on the role of asset monetization, he highlighted that it helps trigger investment cycle, unlock economic potential and bring private sector to the forefront.

The Secretary mentioned that going forward the major driver of growth is sustainably investing in infrastructure to ensure viability, raising productivity and improving infrastructure along with the government stepping up investments in important social sectors.

He also stated that there is policy focus on divesting land by way of amendments to the Stamp Duty Act and Income Tax Act to ease demerger. Further, privatization and Mergers & Acquisition of organizations like IDBI Bank and SCI are also underway.
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