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

Industrial Deceleration and 1998-99 Union Budget

This paper argues that white the emphasis of the budget on small-scale industries, information technology, a level playing field for the Indian firms and a greater role for non-resident Indians is correct the actual measures introduced might turn out to he counter-productive. For reversing industrial deceleration, this paper advocates a thrust on technological change and networking for the small and medium firms, For the public sector this paper suggests that rather than setting a majority of their stocks to private firms at the current depressed stock prices, profit-sharing schemes for workers be introduced through equity sharing. It also advocates encouragement for small and medium firms to set up micro power plants based on molasses, wind and solar energy. To make the stock market more broad-based, remove possible malpractices and increase the small investor's confidence, this paper favours the introduction of compulsory depository system in addition to stock option for workers.

Subscribers please login to access full text of the article.

New 3 Month Subscription
to Digital Archives at

826for India

$50for overseas users

Get instant access to the complete EPW archives

Subscribe now


(-) Hide

EPW looks forward to your comments. Please note that comments are moderated as per our comments policy. They may take some time to appear. A comment, if suitable, may be selected for publication in the Letters pages of EPW.

Back to Top