ASSIGNMENT JULY DECEMBER 2016

MS-03 (SAMPLE COPY)

Course Code

MS - 03

Course Title

Economic and Social Environment

Assignment Code

MS-03/TMA/SEM - II/2016

Assignment Coverage

All Blocks

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1. Discuss socio-cultural environment of business and its importance to business giving examples.
Socio-cultural ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- state of society, the extent
of social stratification, conflict and cohesiveness, and so forth.
Socio-cultural environment consists --------------------------------------------------------------------------------------- attitudes and cultural
values on the business of the organization.
The beliefs, values and ----------------------------------------------------------------------------------------- should be inter-related.
The core beliefs of a particular society tend to be rigid. It is difficult for businesses to change these core values, which become a
determinant of its functioning. Some of the important factors and influences operating in this environment are as follows:
a) Social concerns, ----------------------------------------------------------------------, corruption, use of mass media, and consumerism.
b) Social attitudes and values, such as --------------------------------------------------------------------------------------------- and practices,
changing lifestyle patterns, and materialism.
c) Family structure and -------------------------------------------------------------------------------------------, and family values.
d) Role of -------------------------------------------------------------------------------------------------- and society.
e) Educational levels, --------------------------------------------------------------------------------------------------- of society.
Businesses do not exist in a vacuum, ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- must adapt to stay
ahead of their competitors and stay relevant in the minds of their consumers.
Changing Preferences
A major socio-cultural factor influencing businesses and business decisions is changing consumer preferences. What was popular
and fashionable 20 years ago may not be popular today or 10 years down the road. Different styles and priorities can undermine
long successful products and services. For example, a ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------outdated.
Demographics
Changes in demographics are also a significant factor in the business world. As populations age, for example----------------------------------------------------------------------------------------------------------------------------------------------------------------------, changes in
the proportion of genders and different racial, religious and ethnic groups within a society may also have a significant impact on
the way a company does business.
Advertising Techniques
Advertising is perhaps the area of business most ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- lose track of the pulse of the societies in which they engage in
business. Changes in morals, values and fashions must all be considered when creating outward facing advertising.
Internal Environment
In addition to a company's interactions with the market and its customers, socio-cultural factors also impact a company's internal
decision-making process. For example, changing gender -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------towards
racial
discrimination and sexual harassment have changed drastically over the years as a result of socio-cultural change.

Importance of socio-cultural environment to business

Cultural environments consist of the --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- marketing system. Various features of a culture can create an illusion of similarity.

The world has more than 3,000 ------------------------------------------------------------------------------------------------------------------------------------------------------------- cultures and all cultures have their own unique set of customs and taboos.

An individual's personal values arise from ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------, which can also vary across cultures.

The value of time and a country's --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------, in addition to the consumers' values.

EXAMPLEIllustrations of Cultural Differences Around the ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------, and has magical connotations in Benin. Pepsodent toothpaste was
unsuccessful in Southeast Asia because it promised white teeth to a culture where black or yellow teeth are symbols of prestige.
In Quebec, a canned fish manufacturer tried to -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------These activities violated cultural norms. Maxwell House
advertised itself as the "great American coffee" in Germany. It found out that Germans have little respect for American coffee.
General Motors' "Body by Fisher" slogan ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------". In Cantonese, the Philip Morris name sounded the
same as a phrase meaning no luck. In Hong Kong, Korea, and Taiwan, triangular shapes have a negative connotation. In Thailand,
it is considered unacceptable to ------------------------------------------------------------------------------------------------------, but
represents witchcraft and death in many African countries.
Americans usually smile as ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------disagreeing is the
polite way to accept praise. Do not say "Merci" ("Thanks") to a French person's compliment. You might be misinterpreted as
making fun.
Italians wave goodbye as -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------". Offering gifts when you visit a home is expected in Japan, but in the Soviet Union it may be considered a bribe.
In Brazil and Portugal, business people like to entertain foreigners in their homes. When it is time to go, the host may feel
constrained to insist that the foreigner stay. Foreigners should politely take their leave.

2. What are the objectives of public sector and how far these objectives have been achieved? Critically analyse.
Public sector enterprises occupy an important -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------, the Port Trust, Government Salt Factories were the prominent public sector enterprises. After
getting independence, the government felt that if the country needs to speed up its economic growth, then states intervention in
all sectors of the economy is inevitable. At the commencement of the first five-year plan (1951) Governments investment was Rs.
29 crore in five central public sector enterprises. -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------central exchequer was Rs. 1,10,599 crores.
The role of public sector was redefined. In July 1997, Government identified nine central public sector enterprises as
Navaratnas. They are BHEL, BPCL, GAIL, HPCL, IOC, MTNL, NTPC, ONGC, SAIL. -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------domestic and international market etc. In October
1997, the Government granted enhanced autonomy and delegation of financial power to some other profit making public sector
enterprises and categorized them as ------------------------------------------------------------------------ functioning in India.
The main objectives of public enterprises in India are as follows with analysis:
1. Economic development:
Public enterprises were set up to --------------------------------------------------------------------------------------------------- have created a
sound industrial base for rapid industrialisation of the country.

They are expected to provide ------------------------------------------------------------------ economic structure of development.

2. Self-reliance:
Another aim of public ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------, energy, petro-chemicals, and other key and basic industries.
3. Development of backward Areas:
Several public enterprises were ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- for social as well as strategic reasons.
4. Employment generation:
Unemployment has become a serious problem in India. ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- in the private sector have been nationalized.
5. Economic surplus:
Public enterprises seek to generate and ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ public savings for industrial development.
6. Egalitarian society:
An important objective of public enterprises is ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ of goods and services.
Public enterprises protect and promote small scale industries.
7. Consumer welfare:
Public enterprises seek to protect ----------------------------------------------------------------------------------------------------------- at
cheaper prices. They aim at stabilising prices.
8. Public utilities:
Private sector is guided by ------------------------------------------------------------------------------------------------------------, gas,
electricity, public transport. Therefore, the Government has to assume responsibility for providing such services.
9. Defence:
Government ------------------------------------------------------------------------------------------------------------------------- be entrusted for
private sector due to the need for utmost secrecy.
10. Labour welfare:
Public enterprises -----------------------------------------------------------------------------------------------------------------------developed townships, schools, college and hospitals for their workers.

have

Role and Rationale of Public Enterprises

The public sector has ------------------------------------------------------------------------------------------------------------------------------------------------------------------------- performance depends largely the achievement of the country's economic and social goals.
Public sector is considered a powerful engine of ---------------------------------------------------------------------------. The main
contributions of public enterprises to the country's economy may be described as follows:
1. Filling of gaps:
At the time of independence, -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- risk and suffer from long gestation periods.
Private sector concerns do not come --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- built up, through the production of strategic capital goods.

The public sector has considerably widened the industrial base of the country and speeded up the pace of industrialisation.
2. Employment:
Public sector has -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- industrial sector in India.
By taking over many sick units, -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------.
3. Balanced --------------------------------------------:
Private industries -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------and untraded parts of the country.
These areas lacked basic industrial -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------in these regions.
Steel plants of Bhilai, Rourkela and Durgapur; fertilizer factory at Sindri, machine tool plants in Rajasthan, precision instruments
plants in Kerala and Rajasthan, etc., are a few examples ------------------------------------------------- the public sector.
4. Optimum ---------------------------- resources:
Public enterprises make better utilisation of scarce resources of the country. They are big in size and able to enjoy the benefits of
large scale operations.
They help to ------------------------------------------------------------------------------------------------------ utilisation of resources results
in better and cheaper production.
5. -------------------------------- surplus:
The profits earned by public -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------in the country. Public enterprises earn considerable foreign exchange through exports.
6. Self reliance:
Public enterprises -------------------------------------------------------------------------------------------------------------------.
enterprises are also earning considerable amount of foreign exchange through exports.

These

7. Socialistic pattern of society:

Public sector is an --------------------------------------------------------------------------------------------------- of wealth and private
monopolies. These enterprises can serve as powerful means of economic and social change.
8. Public welfare:
Public enterprises help in -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- commodities at cheaper rates.
A proper balance between demand and supply is created to protect consumers against exploitation by profit hungry businessmen.
Public enterprises also protect and promote the interests of workers.

3. What reforms have taken place in the small scale sector and what is their contribution? Discuss with
examples.

Reforms and Small Scale IndustriesSmall scale industries (SSIs) -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

---------------------------------------------------------------------------------------the same thing: finance, technology entrepreneur ship,

regulation! THERE seem to be several reasons for the government's inability to enunciate a policy towards or regarding smallscale industry and to reformulate its programme.
Firstly, the lofty ideals on which -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------by a lobby to share with the licensed monopoly large-scale sector in the allocation of scarce and imported
raw materials and equipment and financial resources. Towards this end an unrealistic reservation list was built up resulting in
many cases in cannibalizing end-products -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------of the small on the large.
There have been parallel developments: a number ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------oriented, skill and knowledge-oriented products in electronics, computers, chemicals,
engineering, food processing, etc. The informal sector -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------, agro-processing and some other industrial activities moving away from prosperous
rural areas causing migration and growth of the urban informal sector.
Secondly, the bewildering ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------definition of small-scale industry and the reform package announcement of
large industry or foreign direct investment up to 24 per cent permitted in small enterprises. The latter measure has reportedly not
in fact attracted much investment. As regards the definition, -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------crore of rupees! Clearly, the beneficiaries will be capital-intensive dependent
anciMaries who can siphon off bank credit earmarked for the small-scale sector.

Contribution with exampleFood products industry has ranked first in -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------parts and except Electrical parts, Wood products, Basic Metal
Industries, Paper products & printing, Hosiery & garments, Repair services and Rubber & plastic products, the contribution
ranged from 9% to 5%, the total contribution by these eight industry groups being 49%. In all other industries the contribution was
less than 5%.

ProductionThe small scale industries sector ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------. The small scale sector has
grown rapidly over the years. The growth rates during the various plan periods have been very impressive.
The number of small scale units has ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------in the background of the general recession in the economy. The transition

period of the process of economic reforms was also affected for some period by adverse factors such as foreign exchange
constraints, credit squeeze, demand recession, high interest rates, shortage of raw material etc. When the performance of this
sector is viewed against the growth in the manufacturing and the industry sector as a whole, it instills confidence in the resilience
of the small scale sector.
The estimates of growth for the year 1995-96 ---------------------------------------------------------------------------------- growth from
1991 onwards. The positive trend is likely to strengthen in the coming years. This trend augurs a bright future for the small-scale
industry.
Export contributionSSI Sector plays a major role in -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------exports, it is estimated that small-scale industrial units contribute around 15%
to exports indirectly. This takes place through merchant exporters, trading houses and export houses. They may also be in the
form of export orders from large units or the -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------the performance of garment, leather and gems and jewellery units from this sector.
OpportunitiesSmall industry sector has performed exceedingly well and enabled our country to achieve a wide measure of industrial growth
and diversification.
Economic Indicators
The Small Scale Industry today constitutes a very -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------as a dynamic and vibrant sector of the economy.
Today, it accounts for nearly 35% of the gross value of output in the manufacturing sector and over 40% of the total exports from
the country. In terms of value added this sector -------------------------------------------------------------------. The sector's contribution
to employment is next only to agriculture in India. It is therefore an excellent sector of economy for investment.

Small Scale Industry offers multiple ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ployment, industrial production and

exports. However, SSI growth is not bereft of problems. Technology, finance, marketing, etc. are the major areas of constraints
for SSI. The cumulative impact of these constraints is reflected in the growing sickness of SSI. Urgent remedial measures to
overcome the constraints will boost the competitiveness of SSI and will further accelerate its growth.

Thanks to the wide network of institutions----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- (Table above). From about 9 lakh units in 1980-81 SSI grew to more than 34 lakh units by 2002.
The cumulative employment generated by SSI went up from ----------------------------------------------------------------------- increased
from Rs. 28,060~crore to Rs. 690,3 16 during the same period.

Several factors would have contributed to the sustained growth of small industry

The remarkable upsurge in -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------scale units, directly and

indirectly.

There is a renewed ------------------------------------------------------------------------------------------------------ the country and

abroad. This had given a boost to the growth of small scale food processing units across the country.

The devaluation and depreciation --------------------------------------------------------------------------------- small scale units

particularly in garments, leather products and handicrafts sectors.

Further, there is an -------------------------------------------------------------------------------------------------------------------------------- from small and medium enterprises in India.

The setting up of Small ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ more and more development responsibilities of SSI, directly and
indirectly has led to a qualitative change in the credit flow to SSI.

All these factors, among others, have collectively contributed to the unhindered high growth of small scale industry in the 90s.
However, small scale industry to have problems on diverse fronts which need to be tackled to further promote their growth in the
future.

4. In what way trade policy reforms contribute to enhancing Indias competitiveness in the International
Market? Explain in detail.
There are now many examples of developing ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------in the 1980s; and Central and South American countries in 1990s, such as Chile.
These countries were also able to tap into the phenomenal growth in international trade. Between 1950 and 2005 the volume of
world trade increased 27 times, from US$ -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------breaking 14.5% surge in the volume of exports in 2010.
But what trade policies and regulations are needed to achieve export success? It is now widely recognized that to tackle the myriad
constraints faced by exporters, trade policy -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------, institutions, etc.); providing competitive access to infrastructure (energy, communications,
transport, etc.); facilitating reliable and efficient movement of goods to destination markets; and ensuring product compliance with
quality and sanitary and phy to sanitary standards.
Because of the success of forerunners of export-led -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------agricultural and manufacturing capacity and substitute domestically produced goods for
imports. This may have been important at an earlier stage of development in some countries, but also led to a number of failures
and slow growth, and a number of countries that had ------------------------------------------------------------------------- outward
oriented. Today, the focus is on improving international competitiveness, allowing the exploitation of dynamic export markets.
The ultimate objective of Government policy is -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------and opportunities. The National Trade Policy explicitly addresses
development aspects in a holistic manner; including sustainable development, by providing opportunities for creating wealth
through income generation and distribution, --------------------------------------------------------- and social well-being.
Trade policy is one of the instruments that can be used to generate and distribute incomes, and therefore can significantly
contribute to economic growth of any country. However, trade performance is only one of the many factors that determine trends
in economic level of country. A -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------interventions and helps to optimally allocate productive resources as well as insulate economies against
shocks. Trade policy reforms can create some economic losses; and some reforms could exacerbate poverty but only temporarily.
Under the circumstances, formulation and use -----------------------------------------------------------------------------------------------------

---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------reform process and help households avoid poverty by allowing them a

greater degree of economic viability. Making a distinction between the social and private costs of adjustment is critical. Trade
policy reform is necessary in the development process and cannot be abandoned altogether.

ExampleIndias trade policy has undergone remarkable changes since -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------of domestic industry suffered severely. Export promotion policies could not
bring any significant turnaround in export growth so as to exceed imports. Consequently, balance of payments situation did not
improve either. Rather, it only deteriorated in the late 80s, culminating in crises in 1990-91.
The 1990-91 crises led the country to -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------tariffs, convertibility of rupee on current account, increased thrust on export promotion measures
through infrastructural support, etc. All these have opened up the economy to international competition considerably. Though
there has not been any significant change on the trade balance front, the overall balance of payments position has become
comfortable since 1991. However, significant export -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------a significant turn-around in export growth. This is essential to improve Indias trade
balance, current account balance and balance of payments.
It is now widely acknowledged that --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- towards globalisation by encouraging exports and permitting imports of
essential inputs as well as capital goods.
A major objective of the EXIM -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------objectives have been met:

In 1991, imports were ------------------------------------------------------------------------. Since 1992, imports are regulated

through a limited negative list, ------------------------------------------------------ by year.
Quantitative restrictions on imports of --------------------------------------------------------------- eliminated.
In July 1991, out of 5021 Harmonised -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------materials, intermediates and capital goods are free of import licensing
requirements.
A large number of -------------------------------------------------------------------------------------------------- are now allowed to
be imported under freely tradable Special Imports Licences.
Customs duty rates have -------------------------------------------------------------------------- to a peak of 40 percent in 1997.

As a result of all these, the share of -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------in China and 23 percent in Mexico. Further, the share of Indias exports in world exports has been
negligible which is the outcome of the lack of ------------------------------------------------------------ market. All these show clearly
that, despite remarkable growth, India has to go a long way in:

Attaining economic ----------------------------------------------------------------- through exports

Improving the competitiveness -------------------------------------------------------------------------------------- market
Diversification ------------------------------------------------------------------------------------------Realising foreign -------------------------------------------------------------------------------------- of GNP.

The focus of these reforms has been on ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------Term Export Strategy (MTES)

for 2002-07 providing a vision for creating a stable policy environment with indicative sector-wise targets, with a mission to
achieve one percent of global trade by 2007.
All these clearly shows that India is consistently marching towards globalization by opening up its economy, by removing the
importers as well as exporters from the clutches of unwanted controls and regulations and also by bringing down the tariff rates to
that level comparable to international standards.

5. Discuss in detail various measures involved in the process of privatisation.

Private Sector Development (PSD) is a term ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------to represent them, or
through a range of areas of policy and regulation to promote functioning, competitive markets.
The private sector can be an engine of inclusive growth by generating decent jobs, contributing public revenue and providing
affordable goods and services. If it invests in suitable innovation and business models, it can also improve poor peoples' lives by
boosting their productive activities. The European Commission assists developing countries in their economic reforms and private
sector development initiatives.
Where entrepreneurship and ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------Business Reports, identifying the
major constraints to business growth. They then work with government and other stakeholders to implement reforms.
The private sector itself can play an ------------------------------------------------------------------------------------- agencies thus work to
strengthen the capacity of businesses and business associations to engage in public-private dialogue with governments.
Privatization is a fuzzy concept that -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------and objectives. It emerges from the countermovement against the growth of government in the West and
represents the most serious conservative effort of our time to formulate a positive alternative. Privatization proposals do not aim
merely to return services to their original -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------and dismiss the movement as simply a replay of traditional opposition to state intervention and
expenditure. The current wave of privatization initiatives opens a new chapter in the conflict over the public-private balance.
Privatization is the process involving the private sector in the ownership or operation of a state-owned undertaking.
Organizational Measures:
1.

A holding company may ------------------------------------------------------------------------------------- for the operating

companies in its hold in their day-to-day operations. In this way decentralization promotes privatization.

2.

The government agrees to ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ownership. In this measure the governments reserves the right to reviews the lease.

3.

To promote privatization these two types of restructuring measures may be taken:

A. Financial Restructuring: -------------------------------------------------------------------------------------------- rationalization

of capital composition of an enterprise in respect of debit equity ratio
B. Basic restructuring implies the ---------------------------------------------------------------------------------------------------------------------------------------------------------- ancillaries or small scale units.
(i) Ownership measures: By the extent -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------. This can have three forms:

(a) Entire ------------------------------------------------------------------------- of a public enterprise to private sector.

(b) Joint venture implies partial transfer of -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------the balance in optimum to the private sector, through the public sector
retains a substantial stake in the undertaking. 74% transfer of Ownership to the private sector implies a dominant share
being transferred to private sector. ---------------------------------------------------------------------- character of the enterprise.
(c) Liquidation implies sale of -------------------------------------------------------------------------------- purpose. This solely
depends on the preference of the buyer.
(d) Workers co-operative is a special form -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------. The burden of running the enterprises rests on the workers in workers
co-operative. The workers become entitled to ownership dividend besides achieving wages for their services.
Organizational measures involve a variety of measures to limited state control. They added:
(a) In their day-to-day commands a ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------(RHEL) may acquire a holding company status, thereby
transferring a number of functions to its smaller units. In this way, a decentralised pattern of management emerges.
(b) Leasing: In this arrangement, the ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------state. This is a kind of tenure ownership. The
government reserves the right to review the lease to the same person or to grant the lease to another bidder depending
upon the circumstances of the cases.
(c) Restructuring there are two ---------------------------------------------------------------------------- restructuring.
Thus it can be concluded that organizational measures are important efforts of organization towards transferring ownership to
private sector.
Rationales for different types of PSD interventions1. How Business Environment Reform leads to Pro-Poor Impacts
The business environment can be -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------institutional arrangements that influence the way key actors operate (e.g., government agencies, regulatory
authorities, and business membership organisations including businesswomen associations, civil society organisations, trade
unions, etc.)

Along with other private sector -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------of other development interventions. A conducive business environment is one of the pre-requisites for
economic growth and poverty reduction.
The positive impact of economic growth on poverty reduction has often been questioned in development circles. Some evidence
has however been presented for this; for example, Ravaillon -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------80% of poverty reduction, and has lifted 500 million people above the poverty
line since 1980, while less than 20% came as a result of changes in inequality. In East Asia, where growth has averaged 9% a year
over the last 15 years, 300 million people are no longer poor".
However, in many developing and transition countries-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------negative impact on women-owned businesses, which are more likely to remain
informal. It is recognised that good regulations are necessary to secure benefits, protect workers, consumers and the environment,
to promote the rule of law and for the efficient functioning of market economies.
Development agencies design reform support programmes in developing and transition countries that create a business
environment more conducive to the growth and competitiveness of the private sector, by reducing legal, institutional and
regulatory constraints for doing business.
2. How Market Development Approaches lead to Pro-Poor Impacts
Proponents of market development -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------through which people participate in economic activity: "Nine out of ten people in the developing world
earn their income in the private sector... On average, the private sector in developing countries, both formal and informal, accounts
for 65 to 75% of the Gross National Product (GNP)".
The priorities expressed by the poor themselves confirm this priority; the World Bank's Voices of the Poor report surveyed 60,000
poor people and asked them what they saw as their best escape route from poverty. The answer was unequivocal: through jobs or
economic opportunities.
Where markets operate in an inclusive manner, -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------market or government failures whilst working with a small target group, the incentive to
make a profit can lead other businesses to copy the positive change on a massive scale. Related to this is the aspect of
sustainability: Due to the catalytic nature of interventions, they can improve the way in which a market system functions in the
longer term, without the agent of change remaining within the market system.
3. How Public-Private Partnerships lead to Pro-Poor Impacts
Business leaders are increasingly interested in social and developmental issues. They may be interested to invest their own
resources in initiatives that would have developmental outcomes but the risks involved in going it alone may be simply too
high.
For donors, partnering with -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------great capacity and outreach and may be able to co-finance shared initiatives.
In this context, public-private partnerships (PPPs) can bring about win-win solutions whereby both commercial and
developmental goals are achieved. In addition to ----------------------------------------------------------------------- include a greater
availability and choice of improved goods and services at lower prices, also for the poor.

6. Neglect of agriculture is the major sin of economic reforms. Examine the statement in detail.
Indian Agriculture has come a long way since independence. Its performance over the last fifty years has, however, revealed both
its strengths and weaknesses. While its main success story has been output growth, particularly of food grains (a record production

of over 200mt in 2001), -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------research, ineffective utilization of land and water resources along with degeneration of the natural resource base, the
problems of dry land agriculture which accounts for 89m.ha. (63% of Net Sown Area in the country) are of special concern in
framing strategies for balanced regional development. -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------The expected high growth was due to the better rain fall.

The economic reforms have not impacted -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------agricultural policy in several key areas. With increased market access and a liberalized trade
regime under WTO, the policy thrust is towards export-oriented, high-value, high-tech agriculture, and towards achieving price
and quality competitiveness in global markets by ensuring international quality standards for our agricultural products. This is
likely to impact cropping patterns in agricultural regions -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------account for less than a third of the seed market which is dominated by private
players.
Raising productivity of our major crops through -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------of Agricultural GDP, with Livestock accounting for a 20% share and the Fishery sector for
about 3%. This sectoral pattern is expected to change -------------------------------------------------------------------------------------------------------------- picks up in response to changes in consumption demand patterns in domestic and international markets.
Food security issues have increasingly -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------therefore lays emphasis on reforms in agricultural sector.
Employment Security and New Economic Reform
The new economic reforms have been emphasing new power projects both in the public and the private sectors. Besides causing
environmental problems, these projects have been displacing people from their traditional livelihood systems. By encouraging
multinationals to enter food processing industries, the reform process by the sheer competition from these business giants has led
to labour displacement. The entry -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------from mechanized boats. Consequently, there is a good deal of evidence to corroborate the view that the

process of economic reform has generated far greater backwash effects in terms of labour displacement, than in generating spread
effects in terms enlarging new employment opportunities. ----------------------------------------------------------------------------------------------------------------------------------------------------of casual labourers the most unprotected form of Indian labour.
Casualisation of labour is witnessed even -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------guess. It is essentially dependent upon the rate and composition of growth and its effects on
employment. With past experience as a guide, we may achieve a high growth rate, the benefits of which may flow to incomes.
This type of scenario could call for effective safety nets -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------, Vol. 39, No.1, Jan-March 1996).
Health Security
As a result of the process of -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------. In urban areas, the situation was even worse. Private hospitals charged Rs.1,206 as against Government
hospitals charging Rs.355. In other words, charges in private hospitals in the urban areas were 3.13 times more than in
Government hospitals. Privatisation is thus bound to -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------. The increase in number of people affected by AIDS, HIV, Cancer, Diabetes also
indicate the immediate necessity for reviewing the user charges levied and the standard of services available for the common man
both in the urban and rural areas. The CMP-2004 is committed to providing better health and education to the people at affordable
costs.
From the ongoing analysis, it may be concluded that -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------reforms were seen to be with a narrow focus since they are concerned with the
corporate sector at the neglect of agriculture. The reform process by permitting multinationals and Indian capitalists to appropriate
the fruits of higher growth has led to casualisation of -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------of highly capital-intensive technology to become globally competitive and to become
modernized.

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