" do not see any immediate danger to the dominance of family firms in India, given their deep roots in the economy."WE can rest assured NEVER THERE WILL BE DANGER TO DOMINANCE OF FAMILY FIRMS. CORRUPTION RULES INDIA and WE INDIANS ARE GREEDY R.PONNAMBALAM
The main draw back is that the GOVT. doesn't hold itself responsible for the performance of the Ministries.Today AIR INDIA is on the block.What about all those ministers who brought the AIR INDIA to this status now and what the situation was in various years and what had been done then and why our investigative journalism practicing Free Press had not published it every year.Suppose ISRO also tells that we would work like AIR INDIA where would we stand today in front of China.But it is profitable to import bolt , nut automobile spares from China which invests in state of the art machinery and produces world class quality.We won't invest in state of the art machinery;will fool ourselves talking jugad and all that trash.We are specialists in IMPORTS right from the British days an even --K R.PONNAMBALAM
“persistence of family control over firms and companies”. “India's private sector ----appear to have become more dynamic in relation to the situation that obtained in the immediate post-Independence period,” .Dynamic in getting Finance from Govt.banks not in bringing in manufacturing based development ,The management style is as told by Mr. Mistry and Now Mr.Sikka episodes.These name are TOO BIG ones .If their fate is like this the ordinary mortal suffer the same in silence against money-power telling something like "agree to disagree" rather than "disagree" straight. , “family-owned business groups accounted for 84 per cent of all assets of the top 20 business groups in 2016-17 and 79 per cent of their revenue.”One corporate was fair enough to tell that they have a combined loan burden of Rs 46,500 crores.What about the others?How fair and just it is to give the nation’s gold ie Capital to some 50 or 100 corporates when the country’s poorest 30% have 1.4% of total wealth.What ECONOMICS is this.This is COMICS. Family-owned businesses are once again at the cross-roads with many struggling with poor domestic and global growth coupled with high indebtedness in many of their key companies.”They are enjoying the wealth the Govt. downloads on their door because the Govt. has displayed no accountability to manage the Industries under it because of the KICK BACK CULTURE IN FINANCIAL DEALS.R.PONNAMBALAM
Re: COMICS not ECONOMICS
by Upendra Shukla on Aug 30, 2017 11:10 AM
You are absolutely right. They raised crores from Govt. Bank. And they will run away, when over borrowed, like Malya and Lalit Modi. And we people we again blame govt.banks for non-performance. What great mokery. On the contrary economist should put a research paper that how top business group came to the top position so that poor can also play that game and come out of poverty.
.Even now the banks openly say that they don’t initiate action on loan defaulters.Govt. units have given the nation missile ,bombs in their chosen line.The pvt.sector couldn’t even give a car like Hyundai, Maruthi or bike like Vespa to the Indian economy has been KICK BACK ECONOMY.R.PONNAMBALAM
"private -- was forced to play second fiddle to -- public sector”.This force was only the higher Financial muscle of then State.That was natural and nothing was wrong." cycle has created a series of winners and losers with a steady rise of new companies and decline of older, inefficient ones. With the exception of the House of Bajaj, ranked 18th in 2017, no other business group in the top 20 list existed at the time of Independence.It must be opened out where from the capital came for these and how much the banks lent and what was that ratio and what was the product line and to what extent the bank lending was justifiable. (Today's large business groups )This, say economists, shows the dynamism of the Indian economy and its entrepreneurial class.The Public money (Bank loans have helped these companies to gain commanding Financial status so much so that almost half of India's total wealth was in the hands of the richest one percent, while the top 10 percent controlled about 74 percent of it. The poorest 30 percent, meanwhile, had just 1.4 percent of the total wealth,"as said by the Ex.V.P.quoting agency Credit SuisseThe Pvt. Sector befooled the Public saying that they are efficient and the state owned units were a failure.The problems and failures of State -owned units were the creation of Trade Unions and the Govts. acquiescing in to trade union Political pressure and pressurizing the management.Even now the banks openly say that they don't in
"private -- was forced to play second fiddle to -- public sector”.This force was only the higher Financial muscle of then State.That was natural and nothing was wrong.” cycle has created a series of winners and losers with a steady rise of new companies and decline of older, inefficient ones.”” With the exception of the House of Bajaj, ranked 18th in 2017, no other business group in the top 20 list existed at the time of Independence.”It must be opened out where from the capital came for these and how much the banks lent and what was that ratio and what was the product line and to what extent the bank lending was justifiable. (Today’s large business groups )This, say economists, shows the dynamism of the Indian economy and its entrepreneurial class.The Public money (Bank loans have helped these companies to gain commanding Financial status so much so that almost half of India's total wealth was in the hands of the richest one percent, while the top 10 percent controlled about 74 percent of it. The poorest 30 percent, meanwhile, had just 1.4 percent of the total wealth,"as said by the Ex.V.P.quoting agency Credit SuisseThe Pvt. Sector befooled the Public saying that they are efficient and the state owned units were a failure.The problems and failures of State -owned units were the creation of Trade Unions and the Govts. acquiescing in to trade union Political pressure.Even now the banks openly say that they don’t init
