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

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Fiscal Space and Union Budget 2020–21

This article points out some drawbacks in the criticism of the Union Budget 2020–21. It notes that the critique suffers from some limitations, ranging from oversimplified solutions, analytical deficiencies and outright factual errors.

The ‘Public’ within and beyond the Enterprise

The protests opposing the privatisation of the Vizag Steel Plant challenge the dilution of the “public sector.”

Is Disinvestment of Air India Appropriate?

An analysis of Air India’s financials reveals that the national carrier is on the path to profitability. Strategic disinvestment at this time will prove to be suboptimal. It is shown that debt obligations of the carrier can be serviced, given its improving performance. The airline’s revenues also entail large amounts of foreign exchange inflows. With global crude oil prices expected to remain subdued, strategic disinvestment of Air India at this juncture is not desirable.

Insights into Privatisation

Privatisation in India: Challenging Economic Orthodoxy by T T Ram Mohan; RoutledgeCurzon, New York, 2005; pp 213, price not mentioned.

Partial Divestiture and Performance of Indian Public Sector Enterprises

Global empirical studies of privatised firms show a significant improvement in their performance after privatisation. This is true in case of fully as well as partly privatised firms. What is the evidence for Indian divested enterprises in this regard? This paper attempts an analysis by empirically examining the impact of divestiture. The results indicate that in case of partial divestiture, where divested equity is thinly spread with the majority shareholding still with the government, there has been no improvement in terms of profitability and operational efficiency. The paper therefore endorses the government's current policy of strategic sale, where management control passes to the strategic partner.

Steel Industry : Will the Good Times Last?

Will the Good Times Last? After nine years of drift, a revival deal for Indian Iron and Steel Co (Iisco) may finally be in the offing. The rehabilitation package for SAIL

Calcutta Diary

If disinvestment boils down to a network of arrangements which enables those close to the centre of power to make mindboggling profit on their money, while the rest of the species are condemned to a paltry profit, none amongst the latter will be agreeable to graze in the village common any more; about everyone who has the animal instinct implanted in him or her will try to cultivate the appropriate contacts.

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