This refers to “The big push, finally” (November 22). Indeed, this strategic move will fetch a few positive results. It will help bridge the fiscal deficit as well as spur revenue when GST collections are not even touching the much-needed Rs 1 trillion benchmark. Privatisation is at the centre of any move to liberalise the economy, more so, if we want to become a developed country one day. Without an iota of doubt, privatisation will also improve the efficiency of these organisations. The fear of job losses during any such move is real but must be dealt with with utmost sensitivity like in the case of the BSNL-MTNL merger where the option of VRS was offered to employees. Coming to revenue expected from this stake-sale: Though it might take longer than expected, it should be utilised as judiciously as possible. Time has come to take strong action on land and labour reforms as well because without that economic revival might not happen.
Bal Govind, Noida
Letters can be mailed, faxed or e-mailed to:
The Editor, Business Standard
Nehru House, 4 Bahadur Shah Zafar Marg
New Delhi 110 002
Fax: (011) 23720201 •
All letters must have a postal address and telephone number