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Book
ISBN- 81-261-1425-8

INDIA INCORPORATED THE MISSING LINK
K.S. RAMACHANDRAN
As of now, India incorporated is characterised by a Missing Link, an euphemism for a want of urgency among forces, precisely those that should spearhead the drive to give the Indian economy the spirit of a true corporate. There are no doubt titans in politics, administration, industry and business. But, there are pygmies galore everywhere. Some major policy decisions have been taken but these are swept aside by measures of populism driven by the political urge to survive whatever the cost to the economy. With impending elections to certain critical legislative assemblies, the leadership duly recognizes the wisdom of soft options anywhere and everywhere. Sugarcane growers in Uttar Pradesh have to be appeased at the cost of sugar mills-this has been the strategy all these years, but now the cane price has been fixed at a level that is tantamount to killing the hen that was laying the egg. The mills never could yield a golden egg but the egg was an economic reality-farmers could grow cane season after season thanks to the sugar industry, the large arrears of cane payments notwithstanding. The infliction of a preposterous cane price on the mills will make a mockery of industrial pricing and in the wider context push the economy farther-not nearer-from the Goal of India Incorporated. There has to be a strong and sustained process of desubsidisation, whether it is of the final product or the input/raw material. State patronage must cease to be an aspect of national policy and vote banks wherever they are must be wooed on the basis of exemplary performance primarily in the form of governance, and not through incentives give-aways, or largesse. Politics must play its part essentially in promoting social justice and economic efficiency. To the extent that these are conflicting ends governance really has to be exceptional.

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Book
ISBN- 81-261-2695-7

ECONOMIC EMPOWERMENT OF WOMEN IN INDIA
DR. M. RAMANJANEYULU
Entrepreneurship among women is an emerging recent phenomenon. It is the process of creating value by attracting together a unique package of resources to exploit an opportunity. Nowadays governments have identified the emerging features of micro enterprises as a new dimension and its results are more benefit to the economy. Micro credit programme will empower women by strengthening their economic roles, increasing their ability to contribute income to family and giving them experience and self-confidence in the public sphere, exposer to income earning activities. Women need credit for skill upgradation, training and entrepreneurial development. The impact of women empowerment would occur by the use of participatory learning approach (PLA) for integrating women's own priorities and strategies in the mainstream of development. This study is aimed at stimulating an inquiry into the favourable circumstances for women to venture, motivational factors, socio-economic and managerial aspects of tangible and intangible benefits of the women micro enterprises in Karnataka state in India. The study also represents physical and financial achievements of various institutions who extended support credit for women entrepreneurial development in the state.

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Book
ISBN- 81-7488-038-0

CAPITAL STRUCTURE PLANNING IN PUBLIC ENTERPRISES
D. RAMULU
The problem of finding an optimum capital structure had been one of the issues that engaged the attention of experts in the field of finance including Modigliani and Miller (The Noble Laurates). The discussion has been continuous on the issue for the reason that there is no conclusive evidence available so far. Though it is believed that the presence of Taxes will be able to find a solution to the question of optimum capital structure, this point of view has also been challenged by the economists. The question of capital structure planning in Public Enterprises has assumed significant proportions for the reason that the P.Es. are not able to stabilize their finances. Though the Government has stipulated a fixed debt-equity ratio of 1:1, no P.E. is following this dictum scrupulously. As such, the increasing interest burden is in a position to endanger the viability of P.Es. in India. In this context, the present study attempts to examine the capital structure planning in P.Es. with a view to recognizing the factors influencing the design. It also attempts to survey the understanding of the management in respect of capital structure planning as a vital factor influencing the design. The study, in particular, highlights the deviations in the precept and practice of capital structure planning. More specifically, the study attempts to test the following hypotheses :

(i) Capital structure planning in P.Es. is executed keeping in view of the broad policy of 1:1 relation between debt and equity;
(ii) The existing system of financing is able to permit the P.Es. to reduce their dependence on Government support;
(iii) Capital structure in PEs. Is planned giving due consideration to factors like age, nature of industry, size of investment; profitability, risk etc; and
(iv) Capital structure has no impact on the viability of the P.Es. in terms of profitability and liquidity.


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Book
ISBN- 81-7041-694-9

DEVELOPMENT BANKING SIDCs IN INDIA
P. KALLU RAO
Industrialisation is an effective means of solving the problems of economic and social progress. The Planning Commission of India has recognized the basic fact that there is a strong and positive relationship between wealth and standard of living of people and the extent of industrialization. It is, thus, one of the striking, features of the Indian Plans for accelerated industrialization to attain a high rate of economic growth and rising levels of living through bridging the gap between the developed regions and the backward regions. The existence of the problems like slow development of industrialization, the absence of organised capital market, inadequate 'Issues Houses' and 'Under-writing Firms,' and the absence of adequate facilities for financing industries necessitated the formation of institutions for meeting the long term investment requirements by which the industrial development can be achieved. In this present analytical study on, 'Development Banking: SIDCs in India', an attempt is made by the author to make an enquiry into the functioning of all the SIDCs in India and to evaluate their performance in the context of provision of finance. It analyses the flow of assistance from SIDCs to different sectors. Further, the performance of SIDCs is compared with All India Financial Corporations. It also covers the performance of MANIDCO, so as to have a glimpse of entrepreneurial development in the state of Manipur.

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