Karnataka’s Leader of Opposition Siddaramaiah urged Prime Minister Narendra Modi to withdraw the decision on disinvestment in public sector banks (PSBs) to promote economic participation of every individual in nation-building.
Noting that disinvestment was definitely not the same as opening up for privatisation, the Congress leader alleged that through disinvestment of banks, “the BJP government is executing day-light robbery of the common man”.
In a letter to Mr. Modi, the Congress leader said the Centre’s decision on disinvestment in PSBs ‘is worrying and is backed by an unfounded economic approach’. The recent announcement by Union Finance Minister Nirmala Sitharaman to sell PSBs as part of the disinvestment programme has sent ripples across India, raising eyebrows among economists, political leaders and also the common man.
