‘Government has no business to be in business’: PM Modi

‘Government has no business to be in business’: PM Modi

Prime Minister Narendra Modi on Wednesday made his strongest pitch for privatisation of non-strategic PSUs, saying the government has no business to be in business and sustaining loss-making units on taxpayers' money drains resources that could otherwise have been spent on public welfare schemes.

"It is government's duty to support enterprises and businesses.

But it is not essential that it should own and run enterprises," the Prime Minister said at a webinar on the privatisation approach in the Budget for 2021-22.

"The government has no business to be in the business," he said.

"Modernise and monetise is the motto we will follow." Watch the full video for more.