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

Articles by Sushil KhannaSubscribe to Sushil Khanna

The Transformation of India's Public Sector

This paper examines the paradox of the diminishing institutional role of large central public sector enterprises despite rising profitability and investment as a result of their being efficient competitors in the new market environment. Under the neo-liberal regime of the last two decades, these CPSES, with large cash balances and improved profitability, have emerged as the main drivers of public savings and investment. But instead of enhancing their strategic role, the union government has been treating them as cash cows. A comparison of the performance of large private and public sector firms in the manufacturing sector shows that the CPSES have provided higher returns on capital employed. And, performance in terms of technical parameters is in no way inferior to that of their private counterparts. Yet the Modi government intends to either privatise these CPSES or sell a significant part of their equity shares, a decision that is devoid of both strategic and business sense.


In the appreciation of Nirmal Chandra (EPW, 10 May 2014), we wrote that, K T Chandy, the fi rst director of the Indian Institute of Management Calcutta (IIMC) brought together in the 1960s some bright and heterogeneous scholars, among whom Nirmal Chandra was one.

Nirmal Chandra (1936-2014)

Two tributes to the life and work of Nirmal Kumar Chandra, the Kolkata-based multifaceted scholar.

Death in Police Custody

Abdul Kafi, Abhijit Bhattacharya, Abhijit Kundu, Aditi Ghosh, Amitava Chakraborty, Amitava Pal, Anindya Datta, Anirban Kundu, Anup Sinha, Apurba Kumar Chattopadhyay, Archana Prasad, Arijit Chaudhuri, Arindam Banerjee, Arun Jana, Asimananda Goswami, Aurnab Ghose, Ayesha Kidwai, Bhupen Sarmah, Bijay Bal, Binayak Dutta-Roy, Biswajit Haldar, Channa Basavaiah, Chirashree Dasgupta, Debabrata Pal, Debi Prasad Mishra, Debnarayan Jana, Dinesh Abrol, Dipak Kesh, Dwaipayan Bhattacharya, G Arunima, Gautam Gangopadhyay, Gautam Gupta, Guruprasad Kar, Himansu Charan Sadangi, Indraneel dasgupta, Indu Agnihotri, Ishita Mukhopadhyay, Janaky Sreedharan, Jayati Das, Jayeeta Sharma, Jyoti Sabharwal, Jyotirmoy Bhattacharya, Kaberi Chakraborty, Kamales Bhaumik, Kandarpa Das, Kaushik Bhattacharya, Kuntal Ghosh, M Rajivlochan, Mahalaya Chatterjee, Maitreyee Nandy, Maitreyee Saha Sarkar, Malabika Das Gupta, Manas Ray, Mritiunjoy Mohanty, Padmanava Basu, Parthapratim Pal, Parthasarathi Bhaumik, Parthiba Basu, Pradip K Mahapatra, Pranab Sarkar, Rahul Roy, Rajni Palriwala, Rajyeswar Sinha, Ranjeeta Dutta, Ratan Khasnobis, S Anandhi, Samantak Das, Sanjukta Ganguly, Saswata Bhattacharya, Satyabrata Chakraborty, Saumyajit Bhattacharya, Selvyn Jussy, Shantanu De Roy, Sharmistha Banerjee, Sharmistha Sen, Shaswati Mazumdar, Shibani Chaudhury, Subimal Sen, Subrata Pal, Sucharita Sen, Suchetana Chattopadhyay, Sudipta Bandyopadhyay, Sudipta Bhattacharya, Sukanta Bhattacharya, Sukhendu Sekhar Sarkar, Sumangala Damodaran, Sumit Kumar Baruya, Surajit Das, Surajit Mazumdar, Surajit Mukhopadhyay, Sushil Khanna, Taposik Banerjee, V K Ramachandran, Vamsi Vakulabharanam.

We have watched with disgust and horror the brutal police assault on students during a peaceful demonstration organised by four Left students’ organisations on 2 April 2013 in Kolkata and the subsequent death of Sudipta Gupta, a participant in the demonstration, while in police custody.

Growth and Crisis in Pakistan's Economy

This essay looks at the political economy of Pakistan during the last two decades. Why has Pakistan faced recurrent balance of payments difficulties? Are the structure of production and exports the culprits? The essay first seeks to throw light on the current crisis facing Pakistan, and then goes on to examine the crisis of 1998 and the stabilisation strategy pursued. This is followed by a look at the long-term evolution of Pakistan's economic policies from the days of Z A Bhutto, touching upon the structural weaknesses that have plagued the economy.

Merchant Banking under SEBI Guidelines

This paper examines the economic and financial implications of some of the regulations introduced by the new Securities and Exchange Board of India (SEBI) through the guidelines it has periodically issued. The regulations apply to investment or merchant banking services required for corporate issues of long-term securities in India, The authors find that some implications of the guidelines may be in conflict with the professed objective of the current economic policy to induce the corporate sector to raise external funds from private investors. Further, the guidelines may be self-defeating in that they may result in less, rather than more, information for the investing public about the typically unobservable quality of a new issue.

Technical Change and Competitiveness in Indian Textile Industry

Why is it that the pace of technical change in Indian industry has been so poor? What are the forces that deter- mine the pace of this change? Since Indian research and development efforts have been meagre, why is it that industry has not imported more advanced techniques from the advanced capitalist economies? What has been the role of Indian capital goods sector in this process? This paper seeks to examine these issues in the context of the cotton textile industry.

Long-Term Problems Remain

The West Bengal government's annual Economic Survey for 1988-89 presents a picture of short-term movements which, though undoubtedly encouraging, can be misleading in a state that has been experiencing agricultural stagnation that is a decade old and industrial contraction for almost two decades.

Transnational Corporations and Technology Transfer- Contours of Dependence in Indian Petrochemical Industry

Technology Transfer Contours of Dependence in Indian Petrochemical Industry Sushil Khanna Technology, not capital, is the decisive factor in the control of modern enterprises and the sharing of benefits from an investment decision. This has rekindled interest in the transfer of technology to Third World countries by the transnational corporations. Numerous studies on the nature and structure of technology markets, the role of the patent system and the mechanisms and costs of technology transfer are now available.

Capital and Finance in the Industrial Revolution-Lessons for the Third World

Capital and Finance in the Industrial Revolution Lessons for the Third World Sushil Khanna This paper seeks to review the studies on capital formation in England in the late eighteenth century and to focus on the set of institutional factors which made the process of early accumulation possible.


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