Soon after assuming office in 1999, the NDA government embarked on a full-scale privatisation programme, offering controlling stake in government-owned companies to “strategic partners”. Starting in January 2000, in less than two and a half years, the government sold controlling stake in nine companies, apart from 19 hotels at various locations belonging to the India Tourism Development Corporation (ITDC). The government earned Rs.5,544 crores from the strategic sale of the nine enterprises. Every single instance was controversial and initiated protests from the unions. The unions not only feared for workers’ jobs but alleged that the units were being sold for a song
Posted on: Wed, 19 Mar 2014 20:19:57 +0000