POLITICS-Middle Class Obfuscations

Bailing Out Sick Units THE increasing incidence of industrial sickness is a pointer to the inefficiency and waste of resources in a capitalist system. Between December 1980 and December 1986 the number of sick industrial units in the portfolio of scheduled commercial banks increased from 24,550 to 1,47,740, a six-fold increase in six years. The amount of credit outstanding against these units increased from Rs 1,808.66 crore to Rs 4,874.49 crore over the same period. Out of a total number of 1,45,427 units for which viability studies have been made, only 17,708 or 12 per cent have been found to be viable. The remaining 1,27,719 units or 88 per cent which are non-viable will presumably have, to be closed down.