This book studies past central governments to analyse the current regime’s push for privatisation

In October 2010, the Planning Commission constituted a “Panel of Experts on Reforms in Central Public Sector Enterprises (CPSEs)”, under the chairmanship of SK Roongta, former chairman of SAIL, the Steel Authority of India Ltd, to examine issues relating to corporate governance, human resource strategy, the Memorandum of Understanding (MOU) system, effective partnership with the private sector, diversifications and mergers, consolidation in CPSEs and to suggest measures for the development of public enterprises. Its report was submitted in November 2011. The Panel gave as many as forty suggestions on various issues, such as better corporate governance, more autonomy to CPSE boards and better utilisation of resources and transparency.

The Panel recommended that every CPSE should have a strategy and business development committee and the said committee should formulate a strategy regarding diversification, acquisition, joint ventures and new business lines for the CPSE. The Panel further suggested fixing a minimum three-year tenure for CMDs/Directors of CPSEs. It also suggested that the CAG should bring out a report about best practices prevailing in diverse fields in different CPSEs, and that this report should, among other things, focus on important cases of indecision and delayed decisions. The report would help CPSEs to learn from…

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