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Open to privatising PSUs, infra funding: Jaitley @ WEF

With the finance minister Arun Jaitley announcing his government is open to looking at some public sector units that can do better in private hands, investor interest in public sector scrips like MTNL, ITI and HMT has shot up.

With the finance minister Arun Jaitley announcing his government is open to looking at some public sector units that can do better in private hands, investor interest in public sector scrips like MTNL , ITI and HMT has shot up.

Deliberating on issues of growth and reforms at the World Economic Forum’s (WEF) India summit, Jaitley said he was satisfied with the beginning that the government has made on reforms.

Speaking at the three-day India Economic Summit, organised by WEF in partnership with industry body CII, Jaitley said the government is trying to fix banking, financial sector issues and large investment is needed in realty sector to aid urbanization. The FM invited large domestic and international participation in areas of infrastructure. Lack of finance had hit highways and port projects. Jaitley said if initial experiment in foreign investment in railways succeeds, it will probably lead to further opening up of economy.

He emphasized that time has come to have a re-look at the Land Acquisition procedure provided in the Land Acquisition Act and opined that some aspects of labour law can certainly be improved.

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