Isnt privatisation painful?
Life without privatisation is becoming even more painful than change. The economic health of India is today living on borrowed time. Some 70% of our tax revenue goes towards repayment of interest on past debts. Under these circumstances, loss-making or in some cases inoperative PSEs are bleeding the nation. Every year Rs 600 crores is spent on paying the salaries of employees of National Textile Mills, a PSE with more than 100 closed units. The workers continue to be paid without doing any work, which is a painful proposition for any self-respecting individual.
