In the Budget 2024-2025, Prime Minister Modi-led government has announced that it will continue the privatization policy…

It has been reported that the Prime Minister Narendra Modi-led government, which has formed the government for the third time, will continue its privatization policy. It is said that the Prime Minister Modi-led government is planning to sell various public sector shares and assets to private individuals to implement various social welfare projects and generate proper income.

Presenting the budget for the financial year 2021-22, Minister Nirmala Sitharaman announced the privatization of two public sector banks and an insurance company. It is said that an important announcement in this regard may be made in the upcoming budget. The central government has already merged several public sector banks to strengthen them financially. There are currently 12 public sector banks operating in India. These account for 60% of Indian banking transactions.

Meanwhile, the central government has set a target of raising Rs 50,000 crore by selling its stake in PSUs by FY 2025. Currently, Public Sector Banks in India are on the growth path. Their financial condition is also good. The time has come for the government to sell their shares in these companies and monetize them. Most of the public sector banks in India are operating profitably in the current environment.

Vivek Iyer, Chairman, Grant Thornton Bharat, said that the government is planning to keep only a few banks and privatize the rest. Therefore, it is said that Finance Minister Nirmala Sitharaman may announce various announcements related to the banking sector in this budget. At present, interest earned on deposits made in banks is taxed. Both the people and the banks are asking for the removal of that tax.

So it is said that the interest earned on the amount deposited in the banks is tax exempt. Experts say that people will come back to banks before depositing their money. More than 200 companies that may be run by Prime Minister Modi’s government will be restructured to make them profitable, Reuters has published.

It is said that this may be announced in detail in the budget. According to this, Nirmala Sitharaman is likely to make announcements including sale of land owned by the government but which may not be in use and monetization of assets.