Imran Masood Targets Centre Over Privatisation, Backs Rahul Gandhi’s IDBI Stand

Congress MP Imran Masood on Friday targeted the central government over privatisation and the sale of public assets while reacting to a social media post by Lok Sabha Leader of Opposition Rahul Gandhi on the proposed IDBI Bank stake sale.

Speaking in Delhi, Masood alleged that institutions built under previous Congress governments were being sold rather than expanded or strengthened.

His remarks came after Gandhi criticised the Centre’s plan to sell a controlling stake in IDBI Bank and publicly backed the lender’s employees.

‘What Have They Built Themselves?’ Asks Masood

Masood said:

“They are solely focused on selling everything that was built by Jawaharlal Nehru, Indira Gandhi, Manmohan Singh and Rajiv Gandhi. What have they built themselves?”

He referred to railway stations, airports, banks and public sector undertakings while arguing that such institutions had originally been created to serve wider public and employment objectives.

These assertions represent Masood’s political criticism of the government’s privatisation and asset-monetisation policies.

Rahul Gandhi Backs IDBI Bank Employees

Earlier on Friday, Rahul Gandhi questioned the Centre’s decision to sell a controlling stake in IDBI Bank to Fairfax Financial Holdings.

He said IDBI had been established to support industrial development and argued that public banks should not simply be treated as saleable assets.

Gandhi also expressed solidarity with IDBI Bank employees and raised concerns about service protections and reservation provisions after privatisation.

Centre and LIC to Sell Majority Stake

The Union government and Life Insurance Corporation of India currently hold a combined majority stake in IDBI Bank.

Under the approved transaction, they are set to sell a 60.72 per cent controlling stake, which would reduce their combined holding substantially.

Rahul Gandhi has argued that the bank’s turnaround and profitability strengthen the case for retaining public ownership.

IDBI Bank reported net profit of about ₹9,513 crore in 2025-26, according to its financial results cited in reporting on the proposed sale.

Masood Raises National Debt Issue

Masood also alleged that India’s national debt had increased sharply over the past 12 years compared with the cumulative borrowing of earlier decades.

He presented the claim as evidence, in his view, that the government’s economic priorities needed closer public scrutiny.

That debt comparison is a political assertion made by Masood and should be assessed against official government debt data rather than treated as an independently established conclusion.

Congress Steps Up Attack on Privatisation

The Imran Masood privatisation remarks add to Congress criticism of the government’s disinvestment policy at a time when the proposed IDBI Bank sale has become a fresh political flashpoint.

Congress leaders have argued that strategic public-sector institutions should remain under meaningful public ownership, while the government has maintained that strategic disinvestment can improve efficiency, unlock value and attract private capital.

The debate is likely to continue as the IDBI Bank transaction moves through its remaining procedural stages.