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The Chakravyuha Challenge: Ease to enter, barriers to exit

Budget - Dated:- 26-2-2016 - Indian Economy making great strides in removing barriers to entry for firms, talent, and technology but less in relation to exit The Economic Survey 2015-16 presented here today in the Parliament by the Union Finance Mini .....

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alent, and technology but less progress has been made in relation to exit. Thus, over the course of six decades, the Indian economy has moved from socialism with limited entry to marketism without exit . The Economic Survey 2015-16 states that the ca .....

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ge share of inefficient firms with very low productivity and with little exit. This lack of exit generates externalities that hurt the economy. Impeded exit has substantial fiscal, economic, and political costs. Fiscal Costs: Inefficient firms often .....

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erhang of stressed assets on corporate and bank balance sheets. Political costs: Government support to sick firms can give the impression that government favors large corporates, which politically limits its ability to undertake measures that will be .....

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relation to diffused consumer interests. As a result it becomes difficult to phase out schemes and they become instruments of granting favors. For example, 50 percent of Central Sector Schemes that were allocated money in the Union Budget 2015-16 we .....

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debt recovery tribunals (DRTs) has increased. The share of settled cases is becoming small and declining and the accumulated backlog of unsettled cases has increased manifold. Furthermore, inability to punish wilful defaulters questions the legitima .....

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