India’s Modi departs from privatisation plans, will overhaul state-run firms, sources say ...Middle East

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India’s Modi departs from privatisation plans, will overhaul state-run firms, sources say
NEW DELHI: India plans to overhaul more than 200 state-run firms to make them more profitable, signalling a departure from Prime Minister Narendra Modi’s aggressive privatisation programme that has struggled to take off, government sources said.The programme to privatise a major portion of India’s lumbering $600 billion state sector announced in 2021, had slowed ahead of the general election in April-May and now faces more resistance after Modi lost his majority in parliament and had to rely on coalition allies to return to office.Expected to be unveiled as part of the annual budget on July 23 by Finance Minister Nirmala Sitharaman, the new plans include selling large parcels of underutilise

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