The closure of 18-20 sick public sector units have gone very well: Panagariya

Vastavam web: Outgoing Niti Aayog Vice Chairman Arvind Panagariya has said the closure of 18-20 sick public sector units (PSUs) have gone “very well”, even as he made a case for expediting privatisation of loss making state-owned companies.The Prime Minister’s Office (PMO) had asked government think-tank Niti Aayog to look into viability of sick state-run companies.”But it is happening in many cases, transaction advisers have been appointed. So even (in the case of) PSUs that were identified for strategic disinvestment, (progress) is happening, only thing is that it is slower,” Panagariya told.

Answering questions on labour reform, Panagariya said he thinks the government does want to do labour reforms.”The labour ministry has been working on four different labour codes (Wages, Industrial Relations, Social Security & Welfare and Safety and Working Conditions) which will replace the 40 plus laws that currently exists at the central level.”When asked about his meeting with leaders of Bharatiya Majdoor Sangh(BMS), Panagariya said after “their criticism they (BMS leaders) had come here and we had one hour long chat”.Talking about the economic growth, Niti Aayog Vice Chairman said, “We should grow this year (2017-18) at about 7.5 per cent. In the fourth quarter of this fiscal, we might touch 8 per cent growth.” Asked about his views on debate about shifting fiscal to January-December from April-March, Panagariya said there is a “need to check what kind of costs we pay for it”.