SJM raises concern over disinvestment plans

New Delhi, Feb 3: The Swadeshi Jagaran Manch (SJM) has voiced serious concern over the government move to disinvestment of PSU banks and LIC in the union budget presented by the Finance Minister on February 1.

Besides praising the government the SJM expressed its displeasure over the government move to disinvest pu8blic sector banks and government owned enterprises besides the insurance sector to foreign direct investment.

SJM Convener Ashwani Mahajan said that the SJM was appreciative of the government for its enhanced and judicious spending for the survival of the people who faced job or income losses, by providing free food and other essential steps for their livelihood, to bring the economy back on the track both in rural and urban areas.

Reservations were, however expressed ion the disinvestment proposals and raising the FDI limits in insurance. The announcement of carrying out disinvestment of BPCL, Air India, Shipping Corporation of India, Pawan Hans, BEML, etc. is a cause for concern, Mahajan added.