An honest appraisal from India’s Finance Minister:
https://asia.nikkei.com/Politics/India-s-state-run-companies-should-be-cut-to-bare-minimum-minister
“Most of India's more than 350 state-owned companies should be eliminated over the coming years, reducing them to the "bare minimum," Finance Minister Nirmala Sitharaman said Thursday.
Sitharaman said the bare minimum refers to companies in "strategic" sectors including defense, power and mining.
"The idea of socialism, which has set up these state-run enterprises, did not help India," she said. State-owned companies have not been managed professionally enough, and some "do not even have valuation."
"As a result, even if you have political commitment to sell them off, you cannot move forward," the minister said.
"There is a lot of systemic due diligence [such as getting a fair valuation] to be done before I can even take them to the market. So the timeline may be a wishlist at this moment," she said, explaining the difficulties of charting a path to privatization”.
https://asia.nikkei.com/Politics/India-s-state-run-companies-should-be-cut-to-bare-minimum-minister
“Most of India's more than 350 state-owned companies should be eliminated over the coming years, reducing them to the "bare minimum," Finance Minister Nirmala Sitharaman said Thursday.
Sitharaman said the bare minimum refers to companies in "strategic" sectors including defense, power and mining.
"The idea of socialism, which has set up these state-run enterprises, did not help India," she said. State-owned companies have not been managed professionally enough, and some "do not even have valuation."
"As a result, even if you have political commitment to sell them off, you cannot move forward," the minister said.
"There is a lot of systemic due diligence [such as getting a fair valuation] to be done before I can even take them to the market. So the timeline may be a wishlist at this moment," she said, explaining the difficulties of charting a path to privatization”.