BEML is a PSU of strategic importance in the defence sector. It manufactures missile launchers, tank aggregates, armoured recovery vehicles (ARV) and armoured repair and recovery vehicles (ARRV), bridging systems, transportation trailers, etc. It is precisely for this reason that BEML had been placed under the Ministry of Defence. With its highly capable workers, BEML can play a much bigger role in indigenising defence manufacture, thus reducing the dependence on foreign countries.
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Massive Escalation of Privatisation to Satisfy Monopoly Capitalist Greed
A massive escalation of privatisation has been announced through the budget speech presented by the Finance Minister on 1 Feb, 2021. So far, the Central Government was carrying out sector by sector, or even department by department privatisation, as in the case of railways. It has now announced the plan to privatise the vast majority of public enterprises as rapidly as possible.
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