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Ficci invites Centre attention to state-run units' show
Our Bureau
NEW DELHI, January 28: The apex chamber of commerce, Federation of Indian Chambers of Commerce and Industry (Ficci), in a study, has asked the government to take a serious view of the `dismal performance' of the public sector which, it says, has shown a widening negative gap between its savings and investments rate.The gross domestic public saving was 1.9 per cent of the gross domestic product (GDP) but the gross domestic public investment was 8.2 per cent of GDP, leaving a negative investment gap of 6.2 per cent of GDP.``This is quite contrary to the trend of the private sector,'' the Ficci study said.The real reason for the `dismal' performance of the public sector could be due to cost overruns. For some seven projects with original cost estimates of Rs 67,000 crore, the revised estimates overshot by leaps and bounds to Rs 1,30,000 crore, the study titled "Behaviour of gross domestic savings, investments and savings -- investment gap" said. Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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