A good reason for disinvesting

In an earlier age, when the Indian economy grew at a stately pace of 3.5% every year, the case for disinvestment rested on one simple fact. Public sector undertakings (PSUs)— especially in manufacturing— cornered a large chunk of public investment, but gave poor returns to their owner, the government. Today, there is a very different reason to champion disinvestment: corporate governance issues.

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