Despite Left opposition, the UPA government plans to go ahead with the disinvestment in non-navaratna PSUs to “monetise a small portion of government equity”.Speaking at a forum of financial writers in the Capital today, Finance Minister P Chidambaram, while referring to the key ally’s position on share sale, said: “Disinvestment of non-navratna PSUs is on track. We take on board the formal position of certain parties.”Chidambaram’s statement is significant as the Cabinet is likely to decide tomorrow the disinvestment of a minority share in profit making Neyveli Lignite Corporation and National Mineral Development Corporation.Both proposals were listed for last Friday’s Cabinet meeting but were deferred since Chidambaram did not attend that meeting.The Left parties had earlier approved small disinvestment in non-navratna PSUs to finance the National Investment Fund but last week turned it down putting forth an alternative fund mobilization plan which taxes the luxury goods and services.While admitting to some “shortfalls” of this government, Chidambaram said, “we have not made any major mistakes and stayed on course”.He however linked the “shortfalls” to the coalition politics that the UPA government was facing for the first time. Just as they (UPA government) were new to this concept of a “rainbow coalition”, he pointed out that people interpreting the government’s decisions too are new to understanding the functioning of such a rainbow coalition.“Decision making process in a rainbow coalition government is different from a single party rule. There will be areas where we will agree and there will be those where we will agree to disagree,’’ he said.
