Beware. The government is on a head-hunt of the Public Sector. The budget has proposed for PSU disinvestment to collect Rs. 70,000 crore in this financial year. The budget did not increase the corporate tax but want money to be collected by selling the property of

The Finance Minister plans to generate Rs. 30,000 crore from stake sales in PSUs, despite the fact that the targets set for 2011-12 were missed. “In 2011-12, as against a target of Rs. 40,000 crore, the government will raise about Rs. 14,000 crore from disinvestment. For 2012-13, I propose to raise Rs. 30,000 crore through disinvestment,” he said, and asserted that the government would maintain at least 51 per cent ownership and management control in the PSUs.

It means that in many PSUs, the government is proposing to disinvest up to 49%. This will be for the present. Next time it will cross the 51%,which will virtually mean that it will become a private company as it happened in the case of Maruti Udyog Limited and other PSUs.

A strong protest movement to save the property of the people being gifted to the MNCs and corporates should start immediately.