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Modi backs privatisation, says govt should facilitate land acquisition

CNN-IBN
Apr 08, 2013 at 07:49pm IST

New Delhi: Talking about economic reforms, Gujarat Chief Minister Narendra Modi on Monday came out strongly in support of privatisation while addressing the first Think India Dialogue of Network18. Modi, however, opposed FDI in retail and defence, but backs foreign investment in other sectors and said government's role must be of facilitator in land acquisition.

Modi said he favours privatisation but wanted to test the new model in Gujarat without sale or closure of Public Sector Undertakings (PSU).

Lauding Network 18's initiative to introduce a platform for dialogue between opposing stands, Modi said that fruitful results can be reached through dialogue and "such measures yield positive results".

Govt's role must be of facilitator in land acquisition: Modi

Modi said he favours privatisation but wanted to test the new model in Gujarat without sale or closure of Public Sector Undertakings (PSU).

Pointing out that even though the government was omnipresent in India, Modi said that governance was lacking which resulted in people losing faith in the institution. "God is omnipresent and people have faith in god. Even government is present everywhere but there is no faith. People have more faith in private security agencies for their safety but not in the government machinery," the Bharatiya Janata Party (BJP) leader said.

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