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ECONOMIC AFFAIRS

for 40 per cent of bad loans or around The other highlight of 2017 was the entity began with deposit base of more
Rs 4 lakh crore. Some of the large merger of five associates and the than Rs 26 lakh crore and advances
accounts which are likely to go to the Bharatiya Mahila Bank with State Bank level of Rs 18.50 lakh crore. On the
NCLT include Asian Color Coated of India (SBI), catapulting the country’s social sector, the Finance Ministry
Ispat, Castex Technologies, Coastal largest lender to among the top 50 launched the Pradhan Mantri Vaya
Projects, East Coast Energy, IVRCL, banks in the world. With the merger, Vandana Yojana (PMVVY) to provide
Orchid Pharma, SEL Manufacturing, SBI joined the league of top 50 banks social security during old age and to
Uttam Galva Metallic, Uttam Galva globally in terms of assets. The total protect elderly persons aged 60 and
Steel, Visa Steel, Essar Projects, Jai customer base of the bank will reach above against a future fall in their
Balaji Industries, Monnet Power, 37 crore with a branch network of interest income due to uncertain market
Nagarjuna Oil Refinery, Ruchi Soya around 24,000 and nearly 59,000 conditions.
Industries and Wind World India. ATMs across the country. The merged (PTI Economic Service)

(Contd from page 61) become strategic. Otherwise, since the interests of all partners.
partnerships are flexible arrangements Negotiation with respect to sharing of
markets, it is implemented in PPP that are a means to an end, they may responsibilities, risk, reward and
mode with main market (Hub) and simply be phased out according to a resources is also very critical for both
collection centres (Spokes). Terminal report in the Indian Farming. the partners. Sometimes
market complexes (TMC) are There are certain key features of misperceptions between public and
approved at Patna (Bihar), Perundurai public and private sectors that private sectors with regard to
and Chennai (Tamil Nadu) under NHM. determine the extent of their likely intentions, goals and credibility of
TMC projects of Madurai (Tamil involvement in any endeavour. The achievements may ruin the project.
Nadu), Nagpur and Babangaon private sector is profit oriented, which As in PPP workforce from diverse
(Maharashtra) and Sambalpur is crucial for its survival and a part of background come together, creation of
(Odisha) have been approved in their earning is paid to the government new roles, processes and reporting
principle. It is important to understand in the form of taxes. The public sector relationships among its partners has
partnerships not as a static arrangement, on the other hand has social to be predefined. Cross cultural
but as a process that moves gradually responsibilities and must invest in all training is essential in case of
from general ideas about “profiting one kinds of infrastructure to support international private companies.
from another” to concrete arrangements overall development for the benefit of Moreover high investment risk and lack
with defined objectives. all the citizens to ensure peace and of assured returns are inherent
ANALYSING PPP prosperity of the society in a holistic problems related to our agricultural
Hartwich, Janssen, and Tola (2003) sense. sector. Thus, it would be appropriate
suggest that there are five steps to Many of the public sector activities that partnership requires patience,
consider: identification of the common may not be profitable in short-term, but transparency and trust to succeed. All
interest space; negotiation and design are essential for long term stability of partnership efforts for agricultural
of the partnership contract, including the country. Partnerships are transformation should ultimately lead
legal, funding, and governance issues; established by means of a verbal or to economic prosperity of the farmer.
implementation; evaluation of written agreement among the partners, PPP will become more meaningful if
achievement; and deciding whether the which is subject to the country’s strategic relationship between
partnership will continue if the contract law. partnership is made sustainable with
objectives are not yet achieved, or if A partnership contract, establishes respect to clear deliverables, results
there are new and promising objectives the basic rules for the PPP. To help and targets agreed upon. There is a dire
to pursue in the partnership ensure a successful partnership, it is need to have such collaborations to
arrangement. Over the time, essential that the contract should be improve the existing state of
partnership can profit from gradually very clear and that it provides for agricultural marketing.
improving work relationships and continuity and security to safeguard (PTI Feature)

(Contd from page 62) exercise, the real benefit of GST will August and November. With revenues
not come,” the official said. dropping, the government said it
or less” stabilised and 90 per cent of The revenues under the GST after would move towards matching of
the problems have been addressed. averaging around Rs 93,000 crore for returns, electronic transit permit
“Now, whatever are the remaining the first three months after GST roll system or e-way bill as it looks to
problems, we need to solve them and out slipped to Rs Rs 83,346 crore in check tax evasion. He said it would
stabilise GST. That should be our October as tax rates on several take some time to move to a two-slab
target for 2018. The other major task product were cut and teething troubles GST by merging the 12 and 18 per cent
we have to undertake in 2018 will be with the new regime pushed back bracket, and also ruled out lowering
the process of matching of returns implementation of key provisions. tax rates on white goods from 28 per
because matching of returns is the core Over 3 crore returns have been filed cent at present.
to GST. Unless we undertake this on the GST Network portal between (PTI Economic Service)

64 Competition Wizard March 2018