The Strategist

India to allow private investment in all sectors of economy


05/18/2020 - 03:10



The Indian government will allow private companies to invest in all sectors of the economy, even those that were previously reserved only for state-owned companies, said Finance Minister Nirmala Sitharaman on Sunday.



Yaudre Tai Ming
Yaudre Tai Ming
"The new Independent India program will rely on the new policy of public sector enterprises. In strategic sectors, at least one enterprise will remain under state control, but the private sector will be allowed," said the Minister of Finance.

As the press service of the government noted, a list of strategic sectors requiring the presence of public sector enterprises will be revealed later. In strategic sectors, at least one enterprise will remain under state control, but private companies may be present. In other sectors, public sector enterprises will be privatized.

This is the fifth consecutive speech by the Head of the Ministry of Finance of India, during which she told the details of the plan to support the country's economy.

Indian Prime Minister Narendra Modi on Tuesday announced that the country's authorities will allocate 20 trillion rupees (approximately $ 265 billion) to support the economy during the coronavirus pandemic. Previously, Sitharaman spoke about measures to support small and medium enterprises, non-bank and microfinance organizations, as well as workers, the poor, the real estate sector and agriculture.

source: indiatoday.in