What are the roles of government in preventing the sick units?
Question: What are the roles of government in preventing the sick units?
The term 'sick units' refers to industrial or business enterprises that are facing financial difficulties or are unable to repay their debts. The roles of government in preventing the sick units are:
- To provide timely and adequate credit facilities to the viable units that are facing temporary cash flow problems or market fluctuations.
- To monitor the performance and health of the units and intervene early to identify and resolve the issues that may lead to sickness.
- To facilitate the restructuring or revival of the potentially viable units through measures such as debt restructuring, interest relief, tax concessions, technology upgradation, etc.
- To ensure the speedy and effective implementation of the recovery or liquidation process for the non-viable units that are beyond redemption.
- To create a conducive environment for the growth and development of the industrial and business sectors by providing adequate infrastructure, policy support, incentives, etc.
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