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arungopal agarwal
PSU
by arungopal agarwal on Aug 01, 2016 12:56 PM

They follow govt. system of increasing salary after each 10 years i.e. in 1997, 2007 and now in 2017, each time few come in red due to loot done by their employees, they also have DA linked salary and perqs, of course DA linked pension is not there-to that extent-loot is little lower. As such none of the PSU can earn-since the expenditure will go on increasing irrespective of paying capacity, dis-satisfaction will go on increasing and result is before us all. Like private sector hire and fire is not possible due to strong unions,RTI, govt. intervention and bureaucratic stystems.

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The wars we fought
by on Aug 01, 2016 10:18 AM

In 1990 s if India was on the verge of being of going bankrupt it was not because of the management of Public Sector Industries. We had come out of 3 wars . The country paid for it .What was the extent of the country’s favourite child , the NON PERFORMING ASSET then
The Private sector had also monopoly in Automobiles and the result or contribution was that we had to get Japanese or S.Korean Technology for Maruthi, Hyundai etc. There were two Private sector Steel Plants well run,revered by all but high quality steel products ,new Technology developments from them were unheard of. Even today there is heavy demand for Power .How much is the Private investment in Power sector say in UP where the need is high. In the initial days of Public Sector it was the written doctrine that “Profit motivation is not the aim”.Unions dangled it in front of us.The country was new to Industrial Climate:country had conceptual mistakes. They needed correction.
In my shop I can run only 3 Finihing machines when the fourth machine is available and fourth operator (the Leave Reserve)is available extra because the agreement with the union is to run only 3 Finishing machines in shift. One man and one machine goes idle. The Union also had to learn all these in the interest of the country The Private Sector is not seen as so great in India by its contribution to nation’s growth. In IT sector if the public Sector has been participating it would not have done

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VIJAY KUMAR
Useless article without head or tail
by VIJAY KUMAR on Jul 31, 2016 01:11 PM

The writer seems to have forgotten that around 1991 before Late NarsighRao took over as PM, the country was on the verge of becoming bankrupt with a foreign reserve left to survive only for a few days. Gold from the vaults of RBI had to be put as mortgage in London to draw some loan in order to save national honour from becoming a bankrupt country. TCS (Tata group) or any other IT company like Infosys etc. came up only after with saga of Windows and Micro Soft- Bill Gates etc. So, the country progressed very fast since 1991 and relevant PSUs too grew up well like Coal India which used to be a perpetual loss making company from 1971 to 1991 became a new profit leader and today its one of the most useful and profitable company having a profit of over 20,000 crore every year in addition to paying royalty/taxes etc. of even a higher amount. Coal India with a Public investment of about 6000 crore could turn around only after 1991. So economic liberalization has helped one and all depending on one's ability to face and survive in the market. Simple Market Truth!

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KMC KANPUR
Shop managemnt and Public sector industries
by KMC KANPUR on Jul 31, 2016 12:43 PM

Trade unions ,government interefernce have been always there. Mistakes have to be punished.That is where we fail to exercise our rights. When told "you fellows have spoiled the company."my shop trade union leader replied. "Tumi mastani korcho. Amra thumake ke korethilam. Union will ask for the moon. You should have the guts to no to what is not possible.Your management is spineless.
It is a lesson taught to me and I learned it. Let me also write he (Mr.KGR let me say)is a fairly good reasonable trade union Leader. It is possible to use rules in Public Sector companies ;difficulties will be there. People learn to accept reason Just by implementing No work no pay things are managed in Public Sector.The saying goes a lot of talent is lost for want of little courage in shop management when unionism is met with . Govt. Pressure it had been there . Is it reported in banking sector nowadays also . Shall we close banking sector because of that R.Ponnambalam

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Siddharthan B
PSU
by Siddharthan B on Jul 31, 2016 12:36 PM

PSU's losing their sheen over the years, inept management is one of the reasons.

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KMC KANPUR
Did the liberalization harm the Public wealth
by KMC KANPUR on Jul 31, 2016 12:27 PM

This well written statistics throws light on how the Pubic money was lost through bank Loans. The Loan given as currency notes by Banks have always performed to get the value mentioned in the notes with RBI governor's signature and stamp and words"I promise to pay".That means the bank given loans have never failed to perform.To say that the bank loan is a non performing asset is to say that one has not given the value worth equivalent to that mentioned in the note to someone when he offered the note. That would make the RBI governor's promise redundant. Then how was this words NPA accepted for unrecovered loans and the Public was made to loose ,. Now what is the proportion of law makers who run Industries after liberalization and what is their share in this saga,if any R.Ponnambalam

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KMC KANPUR
Revive Public Setor Undertakings
by KMC KANPUR on Jul 31, 2016 07:07 AM  | Hide replies

So liberalization has helped the growth some private entrepreneurs and growth of unrecovered loans to the banks. The decline in Manufacturing Sector , Power Sector machine Building sector had not been cared for by the powers that be who had been inventing the word NPA and enlarging unrecovered bank loan given with the currency notes with the signature of RBI Governor and were too busy importing bolts, nuts ,plastic hardware ,toys –what a high tech items-from China and scouting for fighter planes etc from developed countries to which we could not graduate in the past 68yrs but enjoy feeling it is glorious to be rich in Non Performing Assets whereas China has been taught it is glorious to be rich and has so gone about. The bank money is Tax payer money and the general Public has been ------ ( a six letter word)
It is high time to revive Public Sector Industries.There were shortcomings in the past more because of militant trade unionism.(one can read the 5 open letters to the officers by the Trade union leader turned Managing Director –a respectable and respected man-of one of the Public Sector Industries. These Private Sectors has nothing to offer even remotely comparable to the outcomes from Space Sector or Atomic Energy Sector. R.PONNAMBALAM


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Ravi PV
Re: Revive Public Setor Undertakings
by Ravi PV on Aug 01, 2016 07:26 AM
In our country: Public Sector = Corruption Inefficiency

Private Sector = Progress & Prosperity

You can choose which ever you like.

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mohit
Re: Revive Public Setor Undertakings
by mohit on Jul 31, 2016 11:58 AM
The private sector offers more benefits to the country and its people than the public sector. Public sector, because of its nature, will have more political interference, very low accountability, trade unions, cannot easily adapt to changing times etc and in the end will rewute more and more tax payers money to survive.

To me, you seems like a paid communist (or could be maoist).

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