How about leasing Public Sector Undertakings?The public sector undertakings (PSU) were set up with a view to speeding up the growth of core sector industries necessary for the economy and the strategic equipment needs of the country. The Government allotted land and financed the projects. They serve the purpose of providing employment and overall development of the neighboring areas where they were set up and also generate income for the government. The successive governments failed to make many of them a success due to their lethargic attitude.
The present government says that all the PSUs will be sold irrespective of whether they are making a profit or loss. They want to privatize all the PSUs. The money belongs to the people. The land belongs to the people. Ours is a socialist country but not a capitalist country. The land is very costly. The government wants to sell all these units to private players. From what we have seen and what will happen in the future, the private players get these properties very cheap. From some debates on the TV, I gathered that the Vizag Steel Plant is valued at a very low rate of Rs 35000 crores. This is subject to correction. This plant is having more than 12000 acres which at present rates may fetch about 5 crores per acre. About ten years back, Hindustan Zinc Factory at Visakhapatnam was sold to Vedanta Group. After running it for some time, they closed the factory and sold the land for a huge profit. In many of the PSUs, the private players will be more interested in the land.
This should not happen. If the government is unable to manage them, let them lease the units to the private sector. The government will be saved the trouble of looking after these units and gets revenue. The properties that belong to the people of the country remain with the people only.