scholarly journals Privatisation of Central Public Sector Enterprises in India

2021 ◽  
Vol 25 (1-2) ◽  
pp. 65-83
Author(s):  
Tashi Phuntsok
Keyword(s):  
Public Sector ◽  
Fiscal Deficit ◽  
Privatisation Process ◽  
Policy Objectives ◽  
The Government ◽  
Reform State

This paper investigates the different phases of reform state owned enterprises (SOEs) that India had been experience since the beginning of reform and analyses the policy objectives behind the policy of SOEs reforms introduced. Having evaluated the policy objectives based on various source the paper seeks to find the degree to which the objectives have been achieved and had an impact on the performance of SOEs. The paper finds three different phases of privatisation with different objectives and that the of performance of SOEs during these phases have been different. The analysis of performances of SOEs in different phases leads to questioning of the need for privatisation and speculation as to whether the actual objective behind the overall privatisation process is to generate revenue to cut the government fiscal deficit.

scholarly journals Fiscal Deficit of the Public Sector in India: Issues on Data Reliability, Accounting Flaws and Missing Variables

2019 ◽  
Vol 8 (S1) ◽  
pp. 13-19
Author(s):  
K. A. Aneesh
Keyword(s):  
Public Sector ◽  
Central Government ◽  
National Income ◽  
Fiscal Deficit ◽  
Data Reliability ◽  
The Public ◽  
Black Economy ◽  
The Government ◽  
Missing Variables ◽  
Definition Of

Fiscal deficit, one of the widely acclaimed and internationally accepted measures of fiscal imbalance, is faced with a lot of conceptual and accounting issues in India. The definition of deficit has been changing and therefore there is no consistency in the official series of deficits published by the government of India. Since 1991, budgets were being framed in the context of the New Economic Policies (NEP) consisting of the Stabilization Policies and the Structural Adjustment Policies (SAP). While, the fiscal austerity in the form of expenditure reduction and revenue enhancement as a corollary to NEP has hardly worked out in India. However, the Central government has undertaken several measures to show a reduced fiscal deficit in India. One of the ways practiced was to implement some changes in the accounting practices over the years. This was by including some additional elements in the definition of deficit and excluding some other items. The second practice was to transfer the deficit of the Centre to other layers of the government. In a broad fiscal policy regime framework following Prof. Arun Kumar’s modified National Income Identity (1988), a total government or public sector comprising of the Centre, State/UTs and local-self-governments as well as the Public Sector Enterprises (PSEs) at the Centre and State levels. The problem of deficit shifting can be automatically avoided by taking the whole public sector into the analysis, which makes the empirical results on interrelationship between fiscal deficit and various macroeconomic variables more realistic and convincing. Still, there is a paucity of white economy data, because of the existence of substantial black economy in India. Its non-inclusion in analysis results in a partial understanding of the economy and often incorrect policy pronouncements. The need to incorporate the black economy is not simply an empirical matter, but a theoretical necessity. This paper in general tries to bring the aforementioned issues on data reliability, accounting flaws and missing variables into the discussion and attempt to correct the fudges in the official deficit series published by the government and also tries construct a compiled series of deficit for the public sector in India. The empirical section of the paper explains the significance of black economy as a variable to be included in the analysis to get better understanding of the economy.

Pre Disinvestment & Post Disinvestment Financial Analysis of Oil and Gas Company in India”

2016 ◽  
Vol 12 (3) ◽  
pp. 205-214
Author(s):  
Sumeet Gupta ◽  
Sharad Srivastava
Keyword(s):  
Public Sector ◽  
Natural Gas ◽  
Financial Performance ◽  
Oil And Gas ◽  
Financial Analysis ◽  
Operating Performance ◽  
Fiscal Deficit ◽  
Efficiency Ratio ◽  
Oil And Natural Gas ◽  
The Government

Disinvestment of minority share of PSU have become one of the important medium of raising revenue for the government. The government wanted to reduce its fiscal deficit by doing disinvestment of public sector enterprise. It is believed that operating performance and efficiency of Public sector enterprise gets improved after the post disinvestment period. There are many public sector enterprise whose financial performance got improved after the disinvestment.The prime focus of the study is to examine:Why there is a need for disinvestment of public sector enterprise      such as ONGC and IOCL.The impact of disinvestment on the financial and operating      performance on pre disinvestment as well as on post disinvestment period. In this study financial performance will be measured e.g.  Profitability ratio, efficiency ratio, liquidity ratio, & leverage and ratio for perspective investor. The financial performance will be used to access whether there is any impact of disinvestment on company’s performance of Oil and Natural Gas Corporation Ltd. & Indian Oil Corporation Ltd.  

scholarly journals The Priority of Exploiting Fiscal Revenue or Lessening Public Expenditure: Evidence from China

2020 ◽  
Vol 6 (1) ◽  
pp. 54
Author(s):  
Yu kun Wang ◽  
Li Zhang ◽  
We-me Ho
Keyword(s):  
Public Sector ◽  
Fiscal Policy ◽  
Causal Relationship ◽  
Public Expenditure ◽  
Positive Impact ◽  
Fiscal Deficit ◽  
The Past ◽  
Fiscal Revenue ◽  
Fiscal Expenditure ◽  
The Government

In the past 28 years, we find that except for the fiscal revenue of 5,132.1 billion yuan in 2007, which is greater than the fiscal expenditure of 4,978.1 billion yuan, presenting a fiscal surplus, the fiscal expenditure of the rest years is greater than the fiscal revenue, showing the situation of public sector net cash requirement (psncr), especially in 2011, the deficit( the gap between fiscal expenditure and fiscal revenue) is 537.3 billion yuan. Since then, the gap between expenditure and revenue has been increasing with each passing year. In 2015, the fiscal deficit is 2,368 billion yuan. In 2018, the fiscal deficit has been expanded to 3,754.4 billion yuan. In order to avoid the continuous increment of the deficit. This paper discusses the causal relationship between China's fiscal revenue and public expenditure from 1990 to 2018. If fiscal revenue has a positive impact on public expenditure, showing that the government shall reduce fiscal deficit through tax increment. On the contrary, it makes public expenditure continue to expand, leading to the continuous deterioration of fiscal deficit, so as to further decide whether China's future fiscal policy should adopt increasing fiscal revenue or deducting public expenditure policy to reduce the deficit.

Knowledge-Driven Project Management in Government Transformation

2009 ◽  
pp. 213-239
Author(s):  
Yannis Charalabidis ◽  
Demetrios Sarantis ◽  
Dimitris Askounis
Keyword(s):  
Project Management ◽  
Public Sector ◽  
Civil Service ◽  
State Of The Art ◽  
Civil Service Reform ◽  
Policy Objectives ◽  
Management Method ◽  
The Government ◽  
Management Approaches

As implementation projects for transforming e-government mature, the need for successfully tackling project management emerges: without a project management method, those who commission an egovernment project, those who manage it and those who work on it will not have the necessary tools to plan, organise, monitor, and reschedule tasks, responsibilities and milestones. In taking forward both the Government Modernisation and the Civil Service Reform agendas, renewed emphasis is being placed on project management approaches and techniques for achieving policy objectives more effectively and efficiently. The present chapter, after giving an overview of state-of-the-art project management methodologies, goes further in indicating the needs of the e-government domain and proposing a goaldriven way to manage all the aspects of e-government projects. Specifically designed tools support the application in a lighthouse project of the Greek public sector, leading to reusable conclusions on achievements and problems faced.

scholarly journals Disinvestment of Public Sector Enterprises (PSEs) and Fiscal Deficit Tackling in India

2020 ◽  
Vol 9 (2) ◽  
pp. 11-17
Author(s):  
K. A. Aneesh
Keyword(s):  
Public Sector ◽  
Life Insurance ◽  
Central Government ◽  
Lower Price ◽  
Fiscal Deficit ◽  
Economic Policies ◽  
Fiscal Deficits ◽  
The Government

Every year since 1991, the Central Government of India has been successfully disinvesting its PSEs from various sectors. The recent announcement to strategically disinvest some of the better performing PSEs like Life Insurance Corporation of India Ltd., Air India and so on is indeed shocking. This seriously questions the intension of the government towards the declared objectives of the disinvestment strategy in 1991. There are severe apprehensions on selling-off the PSEs at a lower price and the utilization of disinvestment proceeds for filling the revenue deficits of the Central Government. This paper discusses the idea of disinvestment in India and the debates associated with it. The paper also critically analyses the disinvestment proceeds in India as a tool to tackle mounting fiscal deficits after the initiation of the New Economic Policies in 1991.

Rising bad debt risks insolvency at Indian banks

2016 ◽  
Keyword(s):  
Public Sector ◽  
Fiscal Deficit ◽  
Content Type ◽  
Public Sector Banks ◽  
The World ◽  
Growing Economy ◽  
The Government ◽  
Indian Banks ◽  
Bank Bailouts ◽  
Bad Debt

Subject India's public sector banks and bad debt. Significance While India is being lauded for being the fastest-growing economy in the world, the government is grappling with a growing bad debt problem that threatens the solvency of at least some of its public sector banks. Impacts If the government prioritises its fiscal deficit targets, financing bank bailouts would be difficult. Meanwhile, banks will cut lending, thereby choking growth. Absent a clear policy, the banking strain could intensify, leading to the actual failure of some banks.

Exogenous risks loom over Indonesia’s foreign debt

2016 ◽  
Keyword(s):  
Public Sector ◽  
Private Sector ◽  
Public Debt ◽  
Foreign Debt ◽  
Commodity Prices ◽  
Household Debt ◽  
Fiscal Deficit ◽  
Content Type ◽  
Private And Public ◽  
The Government

Subject Outlook for Indonesia's foreign debt distress. Significance Indonesia’s total foreign debt reached 325.3 billion dollars by end-September, up 7.8% from the same period last year, according to Bank Indonesia data. This debt is spread almost equally between the private and public sector: 163.1 billion dollars and 162.2 billion dollars respectively. However, while private sector debt is falling, public debt is rising. Impacts Private miners are unlikely to invest heavily in smelters unless they are certain of an uptick in commodity prices. Raising the legal fiscal deficit limit beyond 3% of GDP will be politically difficult for the government. Household debt is unlikely to rise substantially in 2017.

scholarly journals Disinvestment of Public Sector Enterprises (PSEs) and Fiscal Deficit Tackling in India

2020 ◽  
Vol 9 (2) ◽  
pp. 49-55
Author(s):  
K. A. Aneesh
Keyword(s):  
Public Sector ◽  
Life Insurance ◽  
Central Government ◽  
Lower Price ◽  
Fiscal Deficit ◽  
Economic Policies ◽  
Fiscal Deficits ◽  
The Government

Every year since 1991, the Central Government of India has been successfully disinvesting its PSEs from various sectors. The recent announcement to strategically disinvest some of the better performing PSEs like Life Insurance Corporation of India Ltd., Air India and so on is indeed shocking. This seriously questions the intension of the government towards the declared objectives of the disinvestment strategy in 1991. There are severe apprehensions on selling-off the PSEs at a lower price and the utilization of disinvestment proceeds for filling the revenue deficits of the Central Government. This paper discusses the idea of disinvestment in India and the debates associated with it. The paper also critically analyses the disinvestment proceeds in India as a tool to tackle mounting fiscal deficits after the initiation of the New Economic Policies in 1991.

India's 2016-17 growth will not meet optimistic budget

2016 ◽  
Keyword(s):  
Public Sector ◽  
Gdp Growth ◽  
Fiscal Deficit ◽  
Economic Strain ◽  
Fiscal Stimulus ◽  
Content Type ◽  
Public Sector Banks ◽  
The Government ◽  
Official Data

Significance He faced pressure to drop the government's commitment to reducing the fiscal deficit in the next few years to 3.0% of GDP, from 3.5% in 2016-17. The economic circumstances seem appropriate for a fiscal stimulus, but Jaitley has decided against this. Impacts Divestment receipts will probably undershoot targets in 2016-17. The health of public sector banks will deteriorate further if the government forces them to increase infrastructure lending. High GDP growth figures despite rising economic strain will fuel suspicions about official data.

scholarly journals Burkina Faso

2019 ◽  
Vol 19 (257) ◽  
Author(s):  
Keyword(s):  
Public Sector ◽  
Public Investment ◽  
Constitutional Reform ◽  
Gdp Growth ◽  
Fiscal Deficit ◽  
Security Risks ◽  
Wage Bill ◽  
Near Term ◽  
The Government ◽  
The Cost

In light of widespread concern about the security crisis and protracted public sector pay disputes, the government resigned in January 2019. The new government, installed with a mission to combat the security crisis with more vigor, remains under tremendous pressure. Growth in 2018 remained resilient as a bumper harvest more than compensated for a decline in non-agricultural GDP growth. Inflation remained subdued, and the overall fiscal deficit declined below 5 percent of GDP, though essentially at the cost of lower public investment. Given difficulties in moving ahead with a constitutional reform, the authorities are now focusing on a two-stage strategy to contain the wage bill. First, in the near term, transitional measures will be implemented and the outlook for the wage bill would remain in line with the understandings reached at the first review. Second, in the meanwhile, the authorities will continue exploring politically feasible ways to adopt their reform package. The main risks to the program stem from heightened security risks and further labor disputes.

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