PSUs: hapless cash cows

Desperate situations often require desperate measures. But often the cure causes irreversible long-term damage at the cost of providing temporary relief. This is precisely what the Congress-led United Progressive Alliance (UPA) is seeking to attempt. In an ostensible bid to revive flagging investments in the economy, the government has decided to nudge several key public sector companies to employ their surplus cash reserves in “credible” investments.

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