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Questions and Answers
What was the primary purpose of declaring nine PSUs as navaratnas in 1996?
What was the primary purpose of declaring nine PSUs as navaratnas in 1996?
- To enhance operational efficiency and global competitiveness (correct)
- To allow 100% foreign ownership in these enterprises
- To reduce the employment opportunities in these companies
- To increase government control over public sector undertakings
Which of the following was NOT one of the original navaratna companies?
Which of the following was NOT one of the original navaratna companies?
- Gas Authority of India Limited (GAIL) (correct)
- Indian Oil Corporation Ltd (IOC)
- Bharat Heavy Electricals Ltd (BHEL)
- National Thermal Power Corporation (NTPC)
What was a key outcome of granting navaratna status to the PSUs?
What was a key outcome of granting navaratna status to the PSUs?
- Improved performance and profitability of these companies (correct)
- The immediate privatization of these enterprises
- A decrease in accountability to stakeholders
- Increased governmental oversight on operations
What do scholars suggest about the government's action concerning navaratna companies?
What do scholars suggest about the government's action concerning navaratna companies?
What has the government decided regarding navaratna companies in recent years?
What has the government decided regarding navaratna companies in recent years?
What crops were mentioned as being exported abundantly from seventeenth century Bengal?
What crops were mentioned as being exported abundantly from seventeenth century Bengal?
Which industry category was exclusively owned by the state during the Second Five Year Plan?
Which industry category was exclusively owned by the state during the Second Five Year Plan?
What was a key feature of the licensing system for industries during the Second Five Year Plan?
What was a key feature of the licensing system for industries during the Second Five Year Plan?
What was the primary aim of promoting industries in backward regions?
What was the primary aim of promoting industries in backward regions?
What characterized the fish availability in Bengal described by Bernier?
What characterized the fish availability in Bengal described by Bernier?
How did the state control the private sector industries despite allowing some to operate independently?
How did the state control the private sector industries despite allowing some to operate independently?
Which category of industries required state responsibility for starting new units?
Which category of industries required state responsibility for starting new units?
Who were the well-known figures in King Vikramaditya's court referred to as the Navaratnas?
Who were the well-known figures in King Vikramaditya's court referred to as the Navaratnas?
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Study Notes
Agriculture in Seventeenth Century Bengal
- Seventeenth-century Bengal described as richer than Egypt by French traveller Bernier.
- Significant exports included cottons, silks, rice, sugar, and butter.
- Self-sufficient in essentials: production of wheat, vegetables, grains, poultry, and fish.
- Extensive waterway network including canals for navigation and irrigation created from the Ganges.
Industrial Policy and the Second Five Year Plan
- The Second Five Year Plan aimed to establish a socialist structure.
- Industries classified into three categories:
- State-owned industries.
- Industries where the private sector supplements state efforts.
- Remaining industries primarily within the private sector but regulated by the government.
- Licensing system required for starting new industries, promoting economic equality by offering licenses in backward regions.
- Existing industries needed licenses for expansion or diversification, controlling overall production to match economic needs.
Navaratnas and Public Sector Undertakings (PSUs)
- The concept of navaratnas derived from the historical Nine Jewels of King Vikramaditya, focusing on excellence in various fields.
- In 1996, nine PSUs were designated as navaratnas to enhance efficiency and competitiveness in a liberalized market.
- Navaratnas granted increased managerial and operational autonomy to improve profitability, alongside 97 mini ratnas.
- Original navaratna companies: IOC, BPCL, HPCL, ONGC, SAIL, IPCL, BHEL, NTPC, VSNL; later included GAIL and MTNL.
- PSUs established in the 1950s-1960s aimed to ensure self-reliance, provide infrastructure, and create employment.
- Granting navaratna status led to improved performance, but critics suggest partial privatization through disinvestment hindered expansion.
- Current government focus on retaining navaratnas in the public sector to promote global competitiveness and self-sufficient resource generation.
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