Private enterprise can save the public sector (with Nandini Gupta)
The multiple mega-corruption scandals have exposed yet again the gaping holes in our governance system. Any "fix" for this problem must include scaling back the role of the government in activities in which the private sector has the necessary competence. Among other things, this calls for bringing the privatization of public sector undertakings (PSUs) back on the policy agenda. Fiscal compulsions have yet again returned the government to minority equity sales in PSUs, but a genuine exit from production activity requires transferring the management into private hands.