• SENSEX
    NIFTY 50
VIDEOS
Economy

Union Budget 2019: Government should focus on privatisation rather divesting stake in PSUs, says Nepean Capital

Updated : July 05, 2019 06:53 PM IST

After the union budget 2019 pegged the disinvestment target for the year at Rs 1,05,000 crore,  Nepean Capital on Friday said Narendra Modi government should focus on privatisation rather divesting stake in public sector undertakings (PSU).

In an interview to CNBC-TV18, Gautam Trivedi, co-founder and managing partner, said government must stop putting money in perennially loss-making PSUs.

Ajay Srivastava CEO, Dimensions Corporate Finance, said, "It is not about paying tax, it is about the direction. Directionally, you are talking about a socialistic orientation in a capitalistic economy. It is nothing to do with paying extra money, it is just directionally a wrong thing for an economy anywhere in the world, everywhere it is going the other way round. We are moving towards the Indira Gandhi regime of more than 90 percent tax equivalent in today's day. Directionally, I think it is a very bad move, I think it is a very socialistic kind of a gesture, which doesn't augur well for capital markets."
primo org
Have you signed up for Primo, our daily newsletter?
It has all the stories and data on the market, business, economy and tech that you need to know.
cnbc two logos
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more
Live TV
Advertisement