Budget 2018: What India needs is privatization, not mere disinvestments

India is yet to see a major privatization drive, at least in the last ten years! Currently Central Public Sector Enterprises (CPSE) disinvestment is treated more like government's 'automated teller machine' (ATM); an instrument to bridge the budgetary deficits and to save the government from not breaching the 'fiscal deficit' target.

Does such type of disinvestments do anything to increase the competitive position of these CPSEs? Do they deepen the markets in enhancing efficiency, technology, innovation, management depth or governance?