Repeating an error: Centre leaves all its disinvestment to the last minute

The Centre's disinvestment programme demonstrates the danger of marrying economic policymaking with government fiscal imperatives. In the last few years, the Union government has increasingly turned towards unorthodox measures, such as stake sales in central public sector undertakings (PSUs), to plug the widening gap between revenues and its various expenditure commitments. And, as the gap has widened, so has the government's desperation. The result has been a financial and economic disaster.

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