Gurugram: Stirring a storm in Haryana's real estate circles, the Haryana Shehri Vikas Pradhikaran (HSVP)—the state's urban development agency—has taken on the role of...
In its toughest time in decades because of floods, Punjab would’ve expected PM Modi to visit. If he has the time for a Bihar tour, why not a short visit to next-door Punjab?
A thought full article needs govt attention with in depth study.Author has rightly pointed it is the leadership at the top which matters not the private/ govt controversy.People like Satish Dhawan,Sarabhai Shreedhran matter a lot than people who have pulls or pushes .We need dedication,hardworking and visionary persons at the helms not the ornamental heads.
Really disappointed that TN Ninan thinks there is something called a “strong” PSU. The only reason reason these PSUs were /are strong in the past is because they do not have competition. The only sector where PSUs achieve excellence is space where they have a monopoly. As far the private debt is concerned India will have to face the consequences for 10 years of unprecedented crony capitalism.
As far as the solution to avoid future “private debt” I think TN Ninan has got it upside down the reason most of the “private debt” turning bad is the PSU banks. These very same loans were avoided by the private sector banks because they were not viable, a fact pointed by CEA Arvind subramanim & Raghuram rajan, multiple times. As long you have govt owned banks, they will be arm twisted by politicians to give out non-viable loans to their cronies which will then turn bad, which will in turn have be written off.
So I think the solution is either privatizing the public sector banks or limiting the mandate of PSUs for social purposes only (Jan dhan, MUDRA, multiple insurance yojanas )- these are also loss making ventures but atleast they serve a social purpose. As far infrastructure & other major projects, are concerned let private players participate but let them get loans from private banks, who will do the required due diligence & will only lend if the loans are viable.
This crisis is the ideal opportunity to privatize PSU banks & get real growth & not the crony growth of the last decade. If we misidentify the source of the problem & create more white elephants (PSUs) we will have a bigger mess ala 1989 in our hands in the future.
A thought full article needs govt attention with in depth study.Author has rightly pointed it is the leadership at the top which matters not the private/ govt controversy.People like Satish Dhawan,Sarabhai Shreedhran matter a lot than people who have pulls or pushes .We need dedication,hardworking and visionary persons at the helms not the ornamental heads.
Really disappointed that TN Ninan thinks there is something called a “strong” PSU. The only reason reason these PSUs were /are strong in the past is because they do not have competition. The only sector where PSUs achieve excellence is space where they have a monopoly. As far the private debt is concerned India will have to face the consequences for 10 years of unprecedented crony capitalism.
As far as the solution to avoid future “private debt” I think TN Ninan has got it upside down the reason most of the “private debt” turning bad is the PSU banks. These very same loans were avoided by the private sector banks because they were not viable, a fact pointed by CEA Arvind subramanim & Raghuram rajan, multiple times. As long you have govt owned banks, they will be arm twisted by politicians to give out non-viable loans to their cronies which will then turn bad, which will in turn have be written off.
So I think the solution is either privatizing the public sector banks or limiting the mandate of PSUs for social purposes only (Jan dhan, MUDRA, multiple insurance yojanas )- these are also loss making ventures but atleast they serve a social purpose. As far infrastructure & other major projects, are concerned let private players participate but let them get loans from private banks, who will do the required due diligence & will only lend if the loans are viable.
This crisis is the ideal opportunity to privatize PSU banks & get real growth & not the crony growth of the last decade. If we misidentify the source of the problem & create more white elephants (PSUs) we will have a bigger mess ala 1989 in our hands in the future.