Disinvestment is a political call: Making sense of PM Modi's 'Babu culture' comment

Last week Prime Minister Narendra Modi in Parliament pitched for a bigger role for the private sector in the economy and also questioned the "power centre we have created by handing over everything to babus”. But, who is responsible for it? Should the political masters take the blame that government still runs fertiliser companies or Air India or should be civil service take the blame? Business Standard's Subhomoy Bhattacharjee explains in details the reasons behind successive governments holding on to the management of public sector companies and the way forward. Watch the video.