09 March, 2021

Only Commas In India

Policy decisions are on hold, investment decisions deferred - and the costs are mounting

Only Commas In India
outlookindia.com
-0001-11-30T00:00:00+05:53

The Vajpayee government may be pushing ahead with disinvestment in Indian Airlines (IA), but that doesn't worry the prickly staff of the national carrier. Confident that nothing can be done by a caretaker government, all the seven IA unions have generously postponed - their strike till the new government is formed. Which means calendar 1999 is safe for flying IA.

The IA staff are just part of the two lakh workers who are under the Damocles' sword of disinvestment and restructuring, a threat which has now receded by six months. The government had worked out a voluntary retirement scheme for 30 psus proposed for disinvestment/joint ventures which would affect 20,000-30,000 workers. All these jobs too are safe for now.

But disinvestment is not the only thing that will be hanging fire for the rest of '99. Says a bank ceo: 'This political hiatus will definitely affect all mega projects, including plans for psus and the insurance sector. At a rough count, at least Rs 10,000 crore worth of projects will now be delayed resulting in an even greater loss in terms of time and...

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