Way back in 1971, Dr B R Shenoy in his very perceptive article titled “Public Sector Wastage” [published in Bombay Pradesh Congress Souvenir: January 1971] unveiled the “picture of waste” of public sector enterprises, which are perfectly valid even today. What were the manifestations of public sector wastage? To quote some of the meaningful descriptions of such wastage from his observations then: (a) idle production capacities; (b) unconscionable wastage of materials and accessories; (c) incredible over-staffing; (d) lack of cost consciousness; (e) gross neglect of maintenance of plant and equipment; (f) high cost and low quality; and (g) pressures by politicians and interference by the Ministries. All these features of inadequacies in Central Public Sector Enterprises’ management in India seem to be of eternal relevance!
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First Published in Forum for Free Enterprise- March 2014
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