Left Menu
Development News Edition

BMS opposes Air India sale, asks govt to revisit decision


BMS opposes Air India sale, asks govt to revisit decision

RSS-affiliate Bharatiya Mazdoor Sangh (BMS) on Tuesday opposed Air India sale, and urged the government to think over this decision. "Ever since inception, public sector undertakings have been the driver of growth and value creation. Perhaps they are the only enterprises in India that fulfilled all the objectives laid out according to the Industrial Policy Resolution of 1956," a BMS statement said.

The union also said that it is unfortunate that they (PSUs) are being sold in the name of resource mobilization to fund social spending. The union is of the view that selling PSU to private players is not going to help the government in mobilizing resources and funding social spending because privatization does not free the government from its responsibilities.

There are certain segment in which both public as well private sector enterprises are not being able to perform and there are cases in which private players failed to generate own resources, they simply took the money in form of loans from banks (many in the public sector) and then they failed to repay the loan, deepening non-performing asset crisis, it added. The PSU also pointed out that while calculating profit and loss of Air India one need to think of the fact that it has been operating many of the low-profit or loss-making routes only to serve the passenger and connecting people with one another promoting national unity - in which any private player will not be operating.

Privatisation of Air India can have a cascading impact; like many of those airports which will lose the flight may face further crises, many of the emerging cities may face the crisis of connectivity etc, it added. Keeping these issues in mind the BMS urge the government to think hundred times before going for the disinvestment of Air India, the union said.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

Download The Devdiscourse News App for Latest News.


TRENDING

OPINION/BLOG/INTERVIEW

Future of Food: Technology fostering the road to global food security

Technological innovation can help address most of the pressing issues facing the world today including food security by enhancing productivity, improving financial services, managing resources, addressing environmental concerns, etc....

Conspiracy theories on COVID 19: Legislators, Scientists, and Journalists all joined the Caravan

Conspiracy theories are not new for virus epidemics. There have been conspiracy theories on HIV-AIDS, Polio Vaccines, Ebola Virus, and several other diseases as well. However, what makes the 2019 Novel Coronavirus different from others is ...

Now it’s a war, Uganda deploys army to combat locust swarms

Its for the first time after 1986, the locust swarms have attacked Uganda twice in a season. With the increasing number of countries of Africa under attack by locust swarms, the problem seems to have taken a regional paradigm. Its very diff...

Top 10 Fake News, Myths and Realities on 2019 Novel Coronavirus COVID 19

With nearly 1500 deaths by January 14 and around 65,000 infections in China, the Novel Coronavirus 2019 has become one of the worst health epidemics of the 21st Century. However, 8,573 people have been cured but the rumor mongers are a...

Videos

Latest News

Nirbhaya case: Convicts move court seeking stay on execution, Tihar asked to respond by Monday

Two of the four death row convicts in the Nirbhaya gang rape and murder case on Saturday moved a Delhi court seeking stay on the execution of the death warrants, scheduled for March 3 Additional Session Judge Dharmender Rana issued notice t...

Amit Shah to visit Kolkata tomorrow to 'clear confusion' on CAA

Union Home Minister Amit Shah will be on a day-long visit to the West Bengal capital on Sunday and address a rally to clear the confusion surrounding the amended Citizenship Act, BJP sources said on Saturday He is scheduled to address the r...

Afghanistan deal is political boost for Trump but pullout could take years

President Donald Trumps quest for a second term received a boost on Saturday from the deal with the Taliban for a troop pullout from Afghanistan but it could take time - possibly years - before all U.S. forces come home from Americas longes...

Walkouts as Roman Polanski wins best director at French Oscars

Roman Polanski won best director for An Officer and a Spy at a fractious ceremony for the French Oscars, the Cesars, that ended in walkouts and recrimination in Paris early Saturday The entire French academy had been forced to resign earlie...

Give Feedback