give me the features of joint sector
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Joint Sector Undertakings:
Joint sector consists of business undertakings wherein the ownership, control and management are shared jointly by the Government, the private entrepreneurs and the public at large.
According to the guidelines laid down by the Government of India, the share capital of a joint sector undertaking (without foreign participation) is to be divided as follows: government 26 per cent, private businessmen 25 per cent and the public 49 per cent.
No single individual or organisation can hold more than 25 per cent of the paid-up capital of a joint sector enterprise without the permission of the Central Government.
In case of foreign participation, the respective shares will be: Government 25 per cent, Indian entrepreneur 20 per cent, foreign investor 20 per cent and the investing public 35 per cent.
Maruti Udyog, Cochin Refineries and Gujarat State Fertilizers are examples of joint sector undertakings in our country.
The main characteristics of joint sector enterprises are as follows:
1. Mixed Ownership:
The government, private entrepreneurs and the investing public jointly own a joint sector enterprise.
2. Combined Management:
The management and control of a joint sector enterprise lies with the nominees or representatives of the Government, private businessmen and the public.
3. Share Capital:
The shares of the Government, private businessmen and the public in the capital are 26 per cent, 25 per cent and 49 per cent, respectively. The aim is to pool the financial resources and technical know-how of the State and the private individuals
Joint sector consists of business undertakings wherein the ownership, control and management are shared jointly by the Government, the private entrepreneurs and the public at large.
According to the guidelines laid down by the Government of India, the share capital of a joint sector undertaking (without foreign participation) is to be divided as follows: government 26 per cent, private businessmen 25 per cent and the public 49 per cent.
No single individual or organisation can hold more than 25 per cent of the paid-up capital of a joint sector enterprise without the permission of the Central Government.
In case of foreign participation, the respective shares will be: Government 25 per cent, Indian entrepreneur 20 per cent, foreign investor 20 per cent and the investing public 35 per cent.
Maruti Udyog, Cochin Refineries and Gujarat State Fertilizers are examples of joint sector undertakings in our country.
The main characteristics of joint sector enterprises are as follows:
1. Mixed Ownership:
The government, private entrepreneurs and the investing public jointly own a joint sector enterprise.
2. Combined Management:
The management and control of a joint sector enterprise lies with the nominees or representatives of the Government, private businessmen and the public.
3. Share Capital:
The shares of the Government, private businessmen and the public in the capital are 26 per cent, 25 per cent and 49 per cent, respectively. The aim is to pool the financial resources and technical know-how of the State and the private individuals
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Features of Joint Sector:
Joint sector enterprises may be brought into being by any of the following ways:
(i) The Central Govt. and private entrepreneurs may jointly set up new enterprises. Sometimes the Central Govt. and one or more State Govts, together may set up enterprises in partnership with the private sector.
(ii) The State Govt. or their industrial development corporations may set up new companies jointly with private partners, involving equity participation by both the partners.
(iii) Public financial institutions may, through equity participation or conversion of loans or debentures into equity, transform enterprises promoted by private entrepreneurs into joint sector companies.
(iv) The existing private enterprises may be transformed into joint sector enterprises by the govt. or govt. companies acquiring a part of the equity or converting debt into equity or by contributing to an increase in the share capital.
(v) The existing public sector companies may be transformed into joint sector enterprises through the sale of some equity shares to private entrepreneurs or the general public.
The concept of the joint sector is a product of certain evolutionary forces of which two seem to be most important:
(i) A drastic change in the pattern of financing big industries in India with the advent and process of State-owned financial institutions; and
Joint sector enterprises may be brought into being by any of the following ways:
(i) The Central Govt. and private entrepreneurs may jointly set up new enterprises. Sometimes the Central Govt. and one or more State Govts, together may set up enterprises in partnership with the private sector.
(ii) The State Govt. or their industrial development corporations may set up new companies jointly with private partners, involving equity participation by both the partners.
(iii) Public financial institutions may, through equity participation or conversion of loans or debentures into equity, transform enterprises promoted by private entrepreneurs into joint sector companies.
(iv) The existing private enterprises may be transformed into joint sector enterprises by the govt. or govt. companies acquiring a part of the equity or converting debt into equity or by contributing to an increase in the share capital.
(v) The existing public sector companies may be transformed into joint sector enterprises through the sale of some equity shares to private entrepreneurs or the general public.
The concept of the joint sector is a product of certain evolutionary forces of which two seem to be most important:
(i) A drastic change in the pattern of financing big industries in India with the advent and process of State-owned financial institutions; and
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