Cash rich PSUs are Navratnas not Kamdhenus. PSU s surplus should be used for business purposes according to what their Managements feel is best for the companies. ( ONGC and Coal India should make India secure in crude oil and coal by acquiring energy assets abroad ). Government should not use PSU resources to bridge its current decicit. Instead Govt should do reduce the runaway subsidizes ( especially Urea and Diesel ) and also reduce the bloated bureaucracy costs.( By having a 6 day week bureaucracy can be reduced by 20 % ). Let India`s National Interests take precedence over Vote Bank politics.
Selling the Family Silver ( in this case PSU `s Cash Reserves)is not a very wise move . Think Long Term . Think about India ( not just Vote Bank Constituencies ). India has many politicians but no statesman.
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