ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

R K MishraSubscribe to R K Mishra

Board Level Remuneration in Central Public Sector Enterprises: Myth and Reality

There is a huge disparity between the compensation packages of the board level functionaries of central public sector enterprises and their private sector counterparts. For making these public undertakings more efficient, the remuneration of their top level executives must match those of private industry. This article argues that to avoid the flight of talent, attractive incentives by way of increased pay packets and perquisites will make executive directors of CPSEs perform better and reduce attrition rates.

Restructuring of SLPEs in India

Between 1991-92 and 2002-03, state level public enterprises continued to incur net losses and showed the chronic tendency of accumulating losses. The paper provides an overview of SLPEs in India, in terms of various financial parameters, followed by a discussion of the privatisation scenario and the different practices of states in this regard. The differentiating features of the privatisation of SLPEs vis-à-vis central public enterprises are outlined to highlight the challenges states face in retaining their portfolios of SLPEs.

State Level Scheduled Caste Corporations in India-Promise and Performance

they drag on. Tyranny and oppression is not unknown in the countryside. But when it goes beyond endurance, the oppressed leave the village for some unknown destination never to return. This has been the practice since ages. But this option is closed for them for they are indebted and the police will arrest them if they run away. The landlords have an understanding among themselves not to employ any person who has run away. On the other hand he will inform the landlord from where he has run away who will then come along with his men. thrash him THE Scheduled Caste (SC) Corporations are a part of the welfare enterprises set up by the various state governments. These enterprises are the latest breed of state level public enterprises (SLPEs) in the country. Though there is no all-India act governing the setting up and functioning of these enterprises, most of the SC corporations have been established by the state governments on their own initiative. Recently, the central government has set up an apex level corporation to finance programmes for the welfare of the masses in this category. It is expected that this apex level institution will more or less work in the same way as the apex financial institutions in the area of industrial and agricultural credit, viz, the Industrial Development Bank of India (IDBI) and the National Agricultural Bank for Rural Development (N AB ARD). While wediscuss the working of these corporations in detail later, we have to bear in mind the fact that the SCs form a sizeable component of the Indian population. The SCs, STs (scheduled tribes) and BCs (backward classes) all put together constitute about 50 per cent of the population of the country, It is no secret that the economic conditions of the SCs is vulnerable and though the father of the nation, Mahatma Gandhi, acknowledged this fact way back in the early 1930s, in his weekly Harijan, no material transformation has taken place in their lifestyle as the programmes for their upiiftment have had a heavy dose of political tint. To provide an economic thrust mercilessly and drag him again to his house for torturing. From then onwards his life will be hell.

State Level Public Enterprises in India-An Overview

An Overview T L Sankar R K Mishra R Nandagopal This article discusses the origins, forms of organisation, objectives, growth, typology, investment and capital financing, use of investments, financial performance, return on equity and resource mobilisation in state level enterprises.

Sale of Public Enterprise Shares-Frittering Away Nation s Wealth

Frittering Away Nation's Wealth R K Mishra R Nandagopal A Lateef Syed Mohammad Absence of a permanent advisory mechanism to guide the government on the modus operandi for launching its disinvestment programme has given credence to the suspicion that disinvestment is not for the benefit of the state but for the benefit of a few interested parties.

Do State Level Public Enterprises Need Memorandum of Understanding

Memorandum of Understanding? T L Sankar R K Mishra R Nandagopal This paper examines the rationale for the introduction of the memorandum of understanding in state level public enterprises, the pre-conditions for its initiation, the institutional set-up required for the preparation and implementation of the MOU and the broad structure of what the MOU should contain for the negotiating parties. Recommendations for the successful installation of the MOU as a business system have also been incorporated.

Working of State-Level Manufacturing Public Enterprises-Promise and Performance

Public Enterprises Promise and Performance T L Sankar R K Mishra R Nandagopal The manufacturing State-level public enterprises are operating in vital areas of the economy. Their efficiency and effective working would strengthen not only their functioning but also the effectiveness of State governments as a whole. However, these enterprises suffer from many infirmities which call for suitable policy and operational reforms not merely at the State level but also at the enterprise level in each State. The structural reforms suggested in the paper could go a long way in helping them turn the corner MANUFACTURING enterprises arc a very fascinating area to study in the domain of the State-level public enterprises (SLPEs). With the direct involvement of the various State governments in the industrialisation process of the country, such enterprises are being set up in increasing numbers by every State. The budget allocations provided for equity support for these enterprises have registered a phenomenal growth. However, their working has become a matter of great concern to policy-makers in view of the non- fulfilment of their objectives to a large extent. An intensive study is required to dissect this phenomenon and to suggest measures for the turn-around of the manufacturing SLPEs. We propose to investigate in this paper the genesis, growth, objectives, investment, financing, physical and financial performance, and problems of these enterprises. The information contained in the paper has been collected from the data base on the SLPEs set up by the Planning Commission and the Ninth finance Commission at the Institute of Public Enterprise, GENESIS, GROWTH AND OBJECTIVES The manufacturing SLPEs have a long history of working to their credit. Even before independence the princely states of Travancore and Mysore had set up rubber, soap and oil factories and encouraged sericulture. The success of this direct intervention encouraged the princely States of Rajaputana, Jammu and Kashmir, Vijayanagaram and Hyderabad to set up more and more of such units. After independence and with the onset of the planned era it became obligatory on the States forming the Indian Union to participate in industrial reformation and restructuring. Many States as a result of this deliberate policy started setting up manufacturing units in the middle of the 1960s, Between 1955 and 1965, 180 manufacturing SLPEs were set up by the various States. The period 1965 to 1980 saw a great spurt in the number of and investment in these enterprises. It was in this period that the base of such units was widely diversified from soaps, detergents, sericulture, paper, mining, cement and sugar units to light and heavy engineering, steel and scooters. Many such units were set up by the Industrial Development Corporations (IDCs) in Andhra Pradesh, Gujarat, Tamil Nadu, Maharashtra and Haryana to produce steel, paper, scooters and engineering items. It was during this period that the States in the north-east set up manufacturing enterprises to exploit the agro and forest based local resources while States such as Uttar Pradesh and Maharashtra started cement, fertiliser, textiles and sugar units as a part and parcel of their area development programmes. The 1980s were a decade of consolidation for these industries. During this period, manufacturing SLPEs have come up in the area of electronics, drugs and phar maceuticals, telecommunications, beverages and computers. The takeover of sick units has also added to the portfolio of PEs in this decade as many State governments decided on socio-economic grounds on the acquisition of such units from the private sector. These units mostly include textile, tea, chemical and engineering enterprises taken over by the West Bengal, Maharashtra, Gujarat, Kerala and Tamil Nadu State governments.

Can State Level Public Enterprises in India Earn a Rate of Return

State level public enterprises (SLPEs) owe their existence more to historical factors than ideological considerations. They came into being on account of decisions in the former princely states to wind up departmental activities and organise them in the form of autonomous public enterprises. SLPEs have become a potent tool in the hands of state governments to implement public policy and account for a significant share of state capital outlays. This paper investigates whether such enterprises can earn a rate of return and if so, what can be done to achieve the same.

State Level Public Enterprises in India-An Overview

An Overview T L Sankar R Nandagopal R K Mishra State level public enterprises are an important segment of public enterprises in India, being vital instruments of public policy for the states. There has been a spectacular growth in the number of these enterprises and the investment in them since the fifties. However, their financial record is poor and managerial performance chaotic Internal resource generation is dismal and their accounting systems are in disarray. This paper provides an overview and suggests certain measures that can bring them out of the present quagmire.
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