UPA Govt not ignoring PSUs: Chidambaram
Chidambaram said the budgetary support to the PSUs has gone up during the coalition's rule.india Updated: Jun 26, 2006 15:38 IST
Denying Left parties' charge that the UPA Government at the Centre was ignoring public sector units, Union Finance Minister P Chidambaram on Monday said the budgetary support to the PSUs has gone up during the coalition's rule.
The budgetary support, which was Rs 84,901 crore in 2003-04 had gone up to Rs 1,42,447 crore this year, he said at a function organised in Chennai for dedicating the Chennai-Tiruchirappalli-Madurai petroleum product pipeline of the Indian Oil Corporation (IOC).
Pointing out that IOC was one of the "Navaratna" PSUs, Chidambaram said that to help the company continue to run profitably, people had to take some "bitter pills", an obvious reference to the petrol and diesel price hike.
He said the Chennai-Madurai pipeline should be extended upto Kanyakumari.
Union Surface Transport Minister TR Baalu said the pipeline project, conceived when he was the Petroleum Minister in United Front Governments had taken ten years for completion.
Stating that a lot of projects were pending with the petroleum ministry, he and wanted them to be cleared quickly.
Union Ministers Dayanidhi Maran and GK Vasan were also present at the function.