General Trading Chat

[bpr]

Agree with most of your post except for this part. I think the PSUs need to be better managed. They have become a story of the government's failure. The PSUs were the drivers of our economy for a long long time. Then somewhere along the way, the government took a decision to divest. Since then these companies have gone downhill without a brake.

Imagine good running businesses like Air India, BSNL, Railways running into deep losses !!. Now the government wants to divest its properties in these assets.

u cannot manage them better that is the point ...conflict of interest ...u cannot take tough decisions people expect to be babus in PSU they think Govt is their servant ...same with customers....its double whammy

they should have been sold long time ago ...the further you delay the further loss u have.
Some years ago they decided to stick with air India and claimed they will revive it ...how is it going for them ??
inevitable...

Look at BSNL now

 

[timepass]

u cannot manage them better that is the point ...conflict of interest ...u cannot take tough decisions people expect to be babus in PSU they think Govt is their servant ...same with customers....its double whammy

they should have been sold long time ago ...the further you delay the further loss u have.
Some years ago they decided to stick with air India and claimed they will revive it ...how is it going for them ??
inevitable...

Look at BSNL now

Sir, we go on this path, we will probably end up privatising DRDO and ISRO. Do we want that ?

 

[siddhant4u]

BSNL was completely mismanaged by current govt. While 4G spectrum was refused clearly resulted in loosing millions of customers to private operator thus cutting off constant revenue stream for the company. Once people move Mobile away from them, other services follow too (broadband/landline).

If the govt really wanted they could have floated BSNL and made it private slowly. But mothballed it like Jet was wrong. Now losses are so huge, even public will support closing BSNL blaming govt employees.

Before anyone jump to 'govt employees in bsnl are worst', same thing use to be in SBI banks, things improved after privatising part of it. Unless you run companies for profit, employees are not responsible for customer service. Once 'bottomline' comes, customer service starts improving.

 

[siddhant4u]

Sir, we go on this path, we will probably end up privatising DRDO and ISRO. Do we want that ?

Already started... look at HAL, after Rafale and other helicopter contracts went to private operators (bankrupt bhai) HAL's financial condition went downhill and they don't have money to pay salaries too.

 

[timepass]

Already started... look at HAL, after Rafale and other helicopter contracts went to private operators (bankrupt bhai) HAL's financial condition went downhill and they don't have money to pay salaries too.

sometime in future, the private companies will come up with better law enforcement plans and Robocop will be a reality.

 

[timepass]

Well, let's see what new directions Niti aayog comes up with.

NITI Aayog CEO Amitabh Kant gets 2-year extension

https://www.moneycontrol.com/news/b...itabh-kant-gets-2-year-extension-4140641.html

 

[sanju005ind]

Sir, we go on this path, we will probably end up privatising DRDO and ISRO. Do we want that ?

I cannot say about Wipro. My mother and her brother worked for DRDO and I was lucky enough to visit these facilities in my childhood and was able to see the missiles firsthand. The results are 25 % of the potential of what they can achieve. Many people including scientists would go on long leave for a year or two and work in the private sector.Many people would come to office put attendance and go out and run their personal business. Subcontracts for certain metullergical work would be awarded to their relatives and friends.
Few dedicated people are there who worked unselfishly like APJ Abdul kalam when he was the director my mom would say he used to stay in a small room and would always be humble to any employee.
Perhaps these PSU's need competition and performance based work. Now the workforce has changed more contractors are employed then employees.

 

[sridhga]

Sir, we go on this path, we will probably end up privatising DRDO and ISRO. Do we want that ?

I see nothing wrong in this path. USA depends on non-Govt. owned defense industry and is very successful at it.

 

[timepass]

I see nothing wrong in this path. USA depends on non-Govt. owned defense industry and is very successful at it.

"Success" is a relative term. We have adhered to a socialist model of democracy and it's working well, IMO. Life in America is not easy either. The "privatise everything" policy has worked only in a limited way.

Please note the differences - America has land, a lot of it. We have about a quarter of the world's population and only 2.5% of the land mass. We lack the resources that the US government has. So the government has to preserve whatever resources it has.

 

[Newbie Day-Trader]

"Success" is a relative term. We have adhered to a socialist model of democracy and it's working well, IMO. Life in America is not easy either. The "privatise everything" policy has worked only in a limited way.

Please note the differences - America has land, a lot of it. We have about a quarter of the world's population and only 2.5% of the land mass. We lack the resources that the US government has. So the government has to preserve whatever resources it has.

Socialism never worked as seen until 1991, & things have gotten better since then because of privatization.