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| PSU body elated over Budget proposal sans divestment target |
| Press Trust of India / New Delhi Jul 06, 2009, 19:44 IST |
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Absence of disinvestment target may have upset the business chambers and economists, but the public sector firms' body SCOPE today complimented Finance Minister Pranab Mukherjee for "validating" its stand on it.
Hailing the Finance Minister for not mentioning any disinvestment target in the Budget, SCOPE Chairman Arup Roy Choudhury said, "It thus validates SCOPE's stand that divestment of public sector stock should be put into market after the PSE management has made the enterprise market savvy so as to get the best price for the stake at the appropriate time."
The Union Budget 2009-10 carries forward the process of inclusive, equitable and sustainable growth, said Standing Conference of Public Enterprises (SCOPE)chairman, who is also CMD of state-run National Building Construction Corporation, in a release.
"It has tried to broad-base the growth process by focusing on infrastructure, urban (JNNURM), agriculture and rural economy (NREGA)," said Choudhury.
He said the budget strengthens infrastructure spending to enable the economy going back to the GDP growth rate of 9 per cent.
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