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MORE MARKETS, LESS GOVERNMENT Table 1. Performance Of State-Level PSEs Number of PSEs Proportion of loss making PSEs Losses of loss making PSEs Proportion of capital in 'non-working' PSEs Proportion of PSEs with negative net worth Rate of Return on Capital % % SGDP % % medium average Andhra Pradesh 54 15 -0.06 2.3 14.8 5.6 10.0 Assam 43 77 -3.47 1.6 20.9 -3.3 -16.4 Bihar 54 70 -1.38 13.0 11.1 -2.5 -7.7 Chhattisgarh 11 36 -0.02 0.0 9.1 5.1 4.6 Delhi 11 45 -4.21 0.0 9.1 3.6 -27.8 Goa 16 63 -0.57 0.0 0.0 -0.1 -11.0 Gujarat 51 39 -0.38 50.5 17.6 2.2 -8.9 Haryana 29 59 -0.05 1.4 13.8 5.5 5.0 Himachal 21 62 -0.50 27.8 23.8 3.3 5.7 Pradesh Jharkhand 6 17 -0.15 0.0 0.0 33.6 43.1 Karnataka 82 41 -0.28 1.5 7.3 3.6 31.2 Kerala 114 61 -0.39 1.1 14.0 1.7 -15.3 Madhya Pradesh 42 33 -0.13 3.8 14.3 1.3 2.2 Maharashtra 82 68 -0.38 3.2 20.7 -0.3 -4.6 Orissa 69 70 -0.28 1.1 21.7 -1.3 -35.0 Punjab 57 44 -0.23 0.3 15.8 -1.2 -12.0 Rajasthan 24 38 -0.06 0.1 20.8 7.4 20.6 Tamil Nadu 68 53 -0.14 0.6 29.4 2.4 -1.6 Uttar Pradesh 94 62 -0.94 51.1 17.0 -1.0 -29.9 Uttaranchal 25 60 -0.32 47.7 12.0 -2.3 -16.4 West Bengal 86 72 -0.50 0.8 44.2 1.4 -45.2 Source: OECD Analysis Of Data From The Comptroller and Auditor General obligations and responsibilities that PSEs are required to undertake in terms of public services should be clearly mandated by laws or regulations. These obligations and responsibilities should also be disclosed to the general public and the related costs should be covered by government in a transparent manner. PSEs should be exposed to competitive conditions in access to finance. Finally, preferential procurement policies should be ended at the state level, following plans by central government to do so in 2008. 11. Once these steps have been taken, the privatisation programme needs to be revitalised, especially in the competitive sectors of the economy. To date, privatisation has been slow and involved only partial sales which, according to international evidence, are less effective in raising productivity and profitability than full sales to the private sector, as control stays with the government. 1 Going forward, mixed sales that transfer control to the private sector and combine strategic investors with public share offerings, have the potential advantages of developing strong corporate governance structures and introducing new management and technology into the company. For PSEs operating in network sectors in which there are monopoly elements, the regulatory environment needs to be made consistent with private ownership and competition with independent regulators in place as part of the privatisation process. The worst performing and THE INDIA ECONOMY REVIEW 141
REIMAGINING INDIA Figure 3. Product Market Regulation And Average Labour Productivity 120 Average labour productivity, 1994 -2004 100 80 60 40 20 0 0.5 Goa Uttaranchal Delhi Correlation coefficient= -0.51 t-statistic= -2.56 Haryana Punjab Maharashtra Gujarat Tamil Nadu Jharkhand Kerala Assam Himachal Pradesh Madhya Pradesh Karnataka Andhra Pradesh Rajasthan Chhattisgarh Uttar Pradesh Orissa Bihar West Bengal 1 1.5 2 2.5 3 Product Market Regulation Indicator Score 1. Reflecting data constraints, labour productivity in Chhattisgarh, Jharkhand & Uttaranchal is measured as the average over 2002-03 period. Figure 4. An International Comparison Of Employment Protection Legislation Australia United Kingdom Switzerland Canada Brazil Denmark Austria Ireland New Zealand Belgium Italy Hungary Finland Poland China Norway Mexico Chile EU 15 Korea Australia Greece Japan France Slovak Republic Turkey Luxemburg Netherlands Germany Sweden Spain India Czech Republic Portugal OECD average 0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 142 THE IIPM THINK TANK
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THE INDIA ECONOMY REVIEW 2007 Volum
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ethink edify edify delineate rethin
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SEARCH, SIEVE, SCHEME... “Researc
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Christopher LINGLE, Professor of Ec
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REIMAGINING INDIA rights as group r
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Lawrence Surendra, Planning Commiss
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REIMAGINING INDIA of globalization,
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REIMAGINING INDIA systematic underi
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REIMAGINING INDIA and South-East As
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Pradeep Banerjee, Independent Consu
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REIMAGINING INDIA yet another Scot
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REIMAGINING INDIA ‘native despot
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REIMAGINING INDIA mean a slow down
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Anandajit Goswami, Associate Fellow
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REIMAGINING INDIA country grows it
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Amal Sanyal, Associate Professor, L
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REIMAGINING INDIA then the resource
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REIMAGINING INDIA entry tickets or
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Nilanjan Banik, Associate Professor
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REIMAGINING INDIA Table 2: Reforms
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Shripad Dharmadikary Manthan Adhyay
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REIMAGINING INDIA the same. The pro
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REIMAGINING INDIA has a religious g
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D.M.Diwakar, Professor of Economics
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REIMAGINING INDIA During 1990-91 to
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REIMAGINING INDIA was lowest in STs
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REIMAGINING INDIA cide in Wayanad D
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REIMAGINING INDIA which is always d
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Anu Singh, Professor of Economics,
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REIMAGINING INDIA age in the eighti
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REIMAGINING INDIA period. Also, the
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Anindo Banerjee, Head, Programme In
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REIMAGINING INDIA a complex interpl
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REIMAGINING INDIA solution, or do t
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Anjani Sinha Managing Director & CE
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REIMAGINING INDIA let us take the c
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REIMAGINING INDIA etc. The idea is
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James Tooley, President, The Educat
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REIMAGINING INDIA the reported low
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REIMAGINING INDIA the best educatio
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Stephen P. Heyneman, Professor, Int
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REIMAGINING INDIA Figure I: Ranking
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Page 93 and 94: Jharna Pathak Assistant Professor,
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Page 97 and 98: Ahmedabad Amreli Banaskantha Baroda
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Page 101 and 102: V. Shunmugam D.G. Prasad Chief Econ
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Page 107 and 108: Deepika Wadhwa, Research Scholar, C
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Page 145 and 146: Rok SPRUK International Economist,
Page 147 and 148: REIMAGINING INDIA Taxes, Corruption
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Page 153 and 154: Kalpana Kochhar, Senior Advisor, As
Page 155 and 156: REIMAGINING INDIA Table 2. India In
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Page 163 and 164: T.R.Manoharan, Senior Coordinator,
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Page 167 and 168: Shubha Ghosh Professor of Law SMU D
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Page 172 and 173: SOTTO VOCE the Directorate of Prohi
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Page 182 and 183: TENANCY REFORMS brief outline of th
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Page 188 and 189: THE HUMAN FACTOR THE INDIA ECONOMY
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P LANMAN TECHNOLOGIES KNOWLEDGE . I
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