Mahindra, Jindal welcome PM Modi's private sector pitch as Congress targets industrialists

Prime Minister Narendra Modi on Wednesday highlighted private sector's vital role in ecomy and asserted that culture of "abusing" it for votes is longer acceptable. "If public sector is important, role of private sector is also vital," he said during his reply in Lok Sabha to discussion on motion of thanks to President's dress.

PM Modi's remarks have earned him praise from two of most rewned industrialists of India -- Chairman of Mahindra Group, Anand Mahindra and Chairman and MD of JSW Group, Sajjan Jindal.

'Welcome works of encourment' 

Taking to Twitter, Anand Mahindra on Thursday said, "Welcome words of encourment at a fragile time for private enterprise due to pandemic. w we have to live up to expectations...both in performance and governance."

Sajjan Jindal also took to microblogging platform saying that "for first time ever, an Indian Prime Minister has publicly shared his respect for Indian Entrepreneurs. "This is a great encourment for community that has been creating wealth and jobs in country." 

PM Modi pitches for private enterprise

Pitching for private enterprises, PM Modi said re should be faith in abilities of India's young population and everyone should get opportunities. He cited examples of telecom and pharma sectors to te as to how robust presence of private firms in se fields has helped people, with even poor using smartphones, and mobile calls costing virtually thing due to competitiveness. 

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"If India is able to serve humanity during COVID-19 pandemic, it is also due to role of private sector," he said. "To use improper words against private sector may have got votes for a few people in past but those times are gone. culture of abusing private sector is t acceptable any longer. We cant keep insulting our youth like this," he said. 

PM Modi's remarks are also seen as a befitting reply to Opposition who has been repeatedly throwing "crony-capitalism" jibe at Centre. Congress h branded budgetary anuncements "a move to support crony capitalism."

Soon after Budget presentation, former Congress president Rahul Gandhi alleged that Narendra Modi government plans to hand over India's assets to crony capitalists through stake sale in public sector companies and financial institutions, including two PSU banks and an insurance company, in next fiscal. "Forget putting cash in hands of people, Modi government plans to handover India's assets to his crony capitalist friends," he said after presentation of Union Budget.

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(With ncy inputs)