If public sector is important, role of the private sector is also vital: PM Modi

New Delhi: "If the public sector is important, the role of the private sector is also vital" stated Prime Minister Narendra Modi during the discussion in the Lok Sabha on the motion of thanks to the President's address on Wednesday. PM stressed on the private sector's vital role in the economy and asserted that the culture of 'abusing' it for votes is no longer acceptable. Noting that wealth creators are a necessity for the country as only then wealth can be redistributed to help the poor, he wondered what can be achieved by handing over the nation to 'babus', which precisely meant government officials.

"If our babus belong to the country so do our youngsters," the PM Modi said. Just because somebody is an IAS officer, he is running fertiliser and chemical factories to airlines, Modi said in a reference to public sector units being headed by bureaucrats and asked what this will achieve.

Competition improves efficiency

Pitching for private enterprises, Modi said there should be faith in the abilities of India's young population and everyone should get opportunities. PM Modi during his speech gave examples of telecom and pharmaceuticals sectors to note as to how the robust presence of private firms in these fields has helped people, with even the poor using smartphones, and mobile calls costing virtually nothing due to competitiveness.

'Abusing private sector is not good'

If India is able to serve humanity during the COVID-19 pandemic, it is also due to the role of the private sector, PM noted. "To use improper words against the private sector may have got votes for a few people in the past but those times are gone. The culture of abusing the private sector is not acceptable any longer. We cannot keep insulting our youth like this," he said.

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It is pertinent to mention here that Modi government has in the Budget-2021 announced its fresh push for disinvestment in the public sector, drawing criticism from the Opposition.

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