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FM Nirmala Sitharaman, in her Budget speech, announced the Centre's intension to privatise many public sector companies. She said that the privatisation of BPCL, Air India, Shipping Corporation of India, Container Corporation of India, IDBI Bank and others would be completed this financial year. She also noted that two public sector banks and one General Insurance company would be privatised in FY2021-22.
The ruling BJP and corporates have welcomed the budget, but the opposition parties and trade unions have taken issue with it.
In fact, several trade unions have called for a nationwide protest on Wednesday against the privatisation policy and other "anti-people" policies proposed in the Union Budget. They also wanted the Centre to scrap the labour codes and electricity bill 2020; and provide income and food support to the families of poor workers.
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