Pranab steps in to stop Trinamool, DMK from taking Left turn on selloff
TMC is opposed to disinvestment in PSUs, especially in banking.
By Aarthi Ramachandran, ET Bureau |
NEW DELHI: Finance minister Pranab Mukherjee has suggested reintroduction of the old formula of breaking up the bitter reform pill into digestible bits for reluctant allies. So, as the Congress veteran shared ���aloo chop��� with Trinamool Congress chief Mamata Banerjee right after replying to the Budget discussion in Lok Sabha, where he reiterated the government���s resolve to divest stake in PSUs, any difference of opinion is likely to have been washed down for now with tea and casual chit-chat.
Trinamool, the biggest party in UPA after the Congress, said there was nothing new in what the finance minister had said in Parliament on disinvestment on Tuesday. While reiterating its opposition to disinvestment of PSUs, especially in the banking and insurance sectors, the party said it would talk to the FM on his proposals.
���What the finance minister has said today is an old story. The Trinamool Congress is opposed to disinvestment in PSUs, especially in the banking and insurance sectors,��� the party���s chief whip in Lok Sabha Sudip Bandhopadhyay said. Asked about Mr Mukherjee���s reiteration that government would sell off its stake in PSUs even as it retained majority ownership of 51%, the leader simply said: ��� We would like to talk with the finance minister.���
Congress, for its part, was intent on amplifying the government���s message that the reform process was well and truly on. ���Both the President���s address and the finance minister have made the intent of the government to go ahead with disinvestment clear,��� Congress spokesperson Manish Tewari said. He added that if Congress��� allies had reservations about divesting stake in specific PSUs, then it could be sorted out through consultations.
Both Trinamool Congress and DMK have come out strongly against government���s plan to raise resources by selling stake in PSUs. While Ms Banerjee has chosen to voice her opposition to ���privatisation��� of government-owned companies, DMK leader Kanimozhi also spoke against the move to disinvest during her speech on the budget in the Rajya Sabha.
Mr Mukherjee, in his reply to the discussion on the budget, emphasised that the government had no plans to give up majority ownership in PSUs where it planned to divest stake.
He said a substantial portion of the funds collected through this process would be ploughed back into the companies for modernisation, technological up-gradation or expansion. Instead of any talk of privatisation, the minister, in his speech, highlighted pro-people aspect of disinvestment talking of people���s participation in PSUs.
In a move reminiscent of the previous UPA government���s bid to set up the National Investment Fund to fund social sector schemes out of the proceeds of PSU stake sale, the Congress is now talking of the benefits of disinvestment for the public.
It remains to be seen whether the negotiations with allies from Bengal and Tamil Nadu will be smoother affair than that with the Left.
Trinamool, the biggest party in UPA after the Congress, said there was nothing new in what the finance minister had said in Parliament on disinvestment on Tuesday. While reiterating its opposition to disinvestment of PSUs, especially in the banking and insurance sectors, the party said it would talk to the FM on his proposals.
���What the finance minister has said today is an old story. The Trinamool Congress is opposed to disinvestment in PSUs, especially in the banking and insurance sectors,��� the party���s chief whip in Lok Sabha Sudip Bandhopadhyay said. Asked about Mr Mukherjee���s reiteration that government would sell off its stake in PSUs even as it retained majority ownership of 51%, the leader simply said: ��� We would like to talk with the finance minister.���
Congress, for its part, was intent on amplifying the government���s message that the reform process was well and truly on. ���Both the President���s address and the finance minister have made the intent of the government to go ahead with disinvestment clear,��� Congress spokesperson Manish Tewari said. He added that if Congress��� allies had reservations about divesting stake in specific PSUs, then it could be sorted out through consultations.
Both Trinamool Congress and DMK have come out strongly against government���s plan to raise resources by selling stake in PSUs. While Ms Banerjee has chosen to voice her opposition to ���privatisation��� of government-owned companies, DMK leader Kanimozhi also spoke against the move to disinvest during her speech on the budget in the Rajya Sabha.
Mr Mukherjee, in his reply to the discussion on the budget, emphasised that the government had no plans to give up majority ownership in PSUs where it planned to divest stake.
ADVERTISEMENT
He said a substantial portion of the funds collected through this process would be ploughed back into the companies for modernisation, technological up-gradation or expansion. Instead of any talk of privatisation, the minister, in his speech, highlighted pro-people aspect of disinvestment talking of people���s participation in PSUs.
In a move reminiscent of the previous UPA government���s bid to set up the National Investment Fund to fund social sector schemes out of the proceeds of PSU stake sale, the Congress is now talking of the benefits of disinvestment for the public.
It remains to be seen whether the negotiations with allies from Bengal and Tamil Nadu will be smoother affair than that with the Left.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
