From foreign policy to economic reforms, former prime minister Atal Bihari Vajpayee has left a lasting impression on governance in India. The former prime minister died at All India Institute of Medical Sciences (AIIMS) at 5.05pm on Thursday, bringing an end to an unparalleled political legacy.
Atal Bihari Vajpayee created a separate disinvestment department in the finance ministry in 1999 and subsequently made it a ministry under Arun Shourie in 2001, despite opposition. Earlier, under Vajpayee in 1998, finance minister Yashwant Sinha said in his 1998-99 budget that the government intended to hold only 26% in non-strategic public sector undertakings (PSUs) while keeping the majority stake in strategic PSUs. With 30 strategic sales between 1999 and 2004, including Balco, Hindustan Zinc, Videsh Sanchar Nigam Ltd and many government-run hotels, Vajpayee’s record of disinvestment remains unsurpassed. Read more