Focus

NSIC: Asset or Liability?

A number of public enterprises were set up by the government of India over the decades since independence to help the growing entrepreneurs in small and medium scale sector. These organizations came into existence at a time when the industrial scenario was in its infancy and the small scale industry (SSI) sector needed a boost for taking a shape. Various schemes were drawn and packages announced to make SSI sector play a pivotal role in the economy.
 
Today the scenario is different. The world has recognized SME sector as a major driving force of economies everywhere. 
 
Many of the organizations and institutions, though rendered redundant, continue to be there without any thought, whatsoever, given to their role in the present industrial scenario. Have such public sector bodies become liabilities on the nation? How much do they cost the public exchequer? Why these bodies are continuing to be there? 
 
SME WORLD plans a series on such public sector bodies and will discuss in detail their role, usefulness, performance in the present industrial milieu.
 
The first in the series will be a detailed write-up on The National Small Industries Corporation (NSIC).