Master plan of Rs 10,000 crores

The policy of the Left Ministry is to make public sector undertakings profitable and grow it even further. As part of this, the government is devising many schemes. Since many PSUs are at a loss, the central government is giving more priority to handing them over to the private sector. No matter what the government does, the public sector institutions that cannot be saved will only cause loss to the country. Meanwhile, public sector organizations in some sectors should be protected if they serve the people beyond profit and loss. From now onwards, no public sector organization that is permanently operating at a loss can be sustained by paying taxes. New technology and diversification are needed to offset losses and turn profits. As a step towards this, the state Industries Minister P Rajeev announced a Rs 10,000 crore master plan for expansion and diversification of PSUs, which is a welcome move.

The minister made this announcement while inaugurating the business alliance meeting held under the auspices of RIAB in Kochi. The minister has also informed that the announcement regarding this will be made after consultation with industry experts, trade unions, officials etc. The objective of the master plan is to develop high quality products from public sector institutions in collaboration with industry. The report that the turnover of public sector institutions under the Industries Department has increased by 32 percent to Rs 3,892.13 crores in the financial year 2021 is promising.

The government should also make an effort to find more investors for public sector institutions. The employment opportunities created through this should benefit the youth here. The Minister also informed that 1,11,091 enterprises have been registered so far as part of the One Lakh Entrepreneurs scheme. The target is to start 1000 small business enterprises with a turnover of 100 crores each within three years. This shouldn't be limited to announcements.Therefore, the government should give importance to ensure the functioning and growth of small enterprises and informing the people. The Rs 10,000 crore master plan announcement can be expected to be a turning point in the industrial growth of Kerala.