Column : Forget disinvestment, think wheat
Some argue the delays are on account of the fact that bureaucrats are scared of CAG/CVC censure given how volatile global prices are. That may be true but is, at best, a partial explanation. After all, the Empowered Group of Ministers took a decision to lower the reserve price for the spectrum auction by around a fourth and to offer a 42% discount on the market price of Hindustan Copper shares—in other words, if a reasoned explanation is made, there should be no problem.
Unlike disinvestment where the line ministries are coming up with all manner of objections, presumably to retain full control of their PSUs, this seems pretty much a win-win proposition since, apart from the money it will give the finance minister, it will create more storage space for more procurement and will prevent grain from rotting. The only opposition you can think of will come from the rats who will presumably now get less to eat. Presumably that’s a lobby that doesn’t have too many supporters.