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

disinvestmentSubscribe to disinvestment

Privatisation: Gains to Taxpayers - and Employees

The policy of the government on disinvestment has evolved over a period of 10 years. It started with selling of minority shares in 1991-92 and continues today with emphasis on strategic sale. The implementation of the present policy has shown the tremendous benefits of privatisation to the taxpayers, the economy, the stock-market and employees. This paper analyses these benefits and tries to allay the fear of the unknown amongst the various stakeholders of the public sector.

Issues in Asset Liability Management - II

From the angle of pricing assets and liabilities a clear and quantified articulation of a bank's strategic objective is needed and this will need to be an adequate return on investment. This is the second of a series of articles discussing the different issues involved in asset liability management by banks.

Civil Aviation Environment in India

The Indian civil aviation sector that showed impressive profits in the pre-liberalisation era has been adversely affected since the onset of the government's open-sky policy in the late 1980s. Attempts to modernise and streamline the airlines' functioning remain stymied due to technological obsolescence, successive changes in government in the mid-1990s; lack of a coherent policy on private participation as well as recalcitrance on the part of politically affiliated unions of pilots and controllers. However, as borne out by several expert recommendations, a reverse in the fortunes of India's beleaguered airlines can only occur with the dawn of professional management.

The Budget in the Context of Long-Term Development

The finance minister wanted to provide a growth-promoting budget. But budgets cannot promote growth or even arrest the process of slowing down if the fundamentals are not addressed squarely and carefully. These fundamentals belong to the sphere of political economy and are not just economic or financial. They are the long-term factors which determine the outcomes of policies. The budget of a particular year must be seen against these longterm factors to assess its impact or its likelihood of success.

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