New Delhi [India], February 1 : Tuhin Kanta Pandey, Secretary of the Department of Investment and Public Asset Management (DIPAM) and one of the key faces in the team this year's interim budget, on Thursday spoke about the disinvestment target for the year 2024-25, stating that the responsibility of the government is to think from the investors' point of view.
Disinvestment or divestment typically refers to the sale by the government, partly or fully, of a government-owned enterprise.
"Value creation in our public assets is the most significant aspect. When we did the listing of the companies, our aim was to distribute wealth among people, that is, make people buy shares," Pandey said while speaking to ANI.
"Now, people come to us as investors willing to get timely dividends and capital gains. When we do the listing of the companies, it is our responsibility to think from the viewpoint of the investors," he said.
The central government has set the disinvestment target for the year 2024-25 at Rs 50,000 crores.
Meanwhile, Finance Secretary TV Somanathan said that the interim budget has covered multiple aspects.
"The budget covers multiple aspects. The government is planning to implement a housing scheme for middle-class people. Secondly, the rooftop solarization scheme will be implemented, keeping in mind middle-class people. For this, a subsidy and loan will be procured for them and the application methodology will be very convenient," Somanathan said while speaking to ANI.
"You can apply for rooftop solarization with an electricity bill. We are also working on private-sector infrastructure. There will be one lakh teams from the private sector that will take care of the installation and maintenance of the solar plates. People will be able to get free electricity. Also, if the production of electricity exceeds the requirement, you can also sell the same, thus earning a profit out of it," he added.
The finance secretary further said that the government is planning to increase expenditure on educational institutions with the aim of enhancing the skills of youth, in line with its 'Skill India' movement.
"Another pertinent point is that the government is planning to increase its expenditure on educational institutions, which will further enhance training, skilling and opportunities," TV Somanathan said.
"Inflation will be curbed with the prudent policies of the government," he added.
The government presented the interim budget for 2024-2025 in Parliament on Thursday with a focus on economic policies that foster growth, facilitate inclusive development, improve productivity, and create opportunities for various sections. It also noted that it will pay utmost attention to the eastern region including the states of Bihar, Jharkhand, Chhattisgarh, Odisha, and West Bengal, to make them growth engines as part of a goal to make India a developed country by 2047.
This was the last budget of the Modi government in its second term, with Lok Sabha polls expected in April-May this year. Sitharaman, who presented her sixth budget in Lok Sabha, expressed confidence in the BJP-led NDA coming to power again.
"In the full budget in July, our government will present a detailed roadmap for our pursuit of 'Viksit Bharat'," she said.
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