When I was doing my CA, my firm was commissioned to do a study on NTC which was losing money hand over fist but the unions were opposing its closure saying that it would result in the loss of over 1 lac jobs. This is what our study found

Salaries accounted for less than 30% of the losses. In other words, just by closing it down and paying staff full pay just to sit at home, the loss could be cut by 70%. A large part of the losses was actually money being siphoned off by management, Bureaucrats and Politicians

Since it was not operating with any Economic rationale, they were flooding the Market with goods under cost. This had resulted in the whole otherwise healthy Pvt Sector going sick and lacs of their employees losing their jobs

NTC was sitting on prime assets- mainly land in the best areas of cities like Mumbai and Delhi. Sale and development of this alone was enough to finance the National budget for a full year and create lacs of otherwise productive jobs which would generate resources for the Economy

This is how vested interests operate. They are parasites and eat up huge resources in the name of some kind of social utopia. I'm sure that if a similar study is done with PSB' s and PSU's we will get similar results

The Agricultural sector in this country is no different. It eats up 40% of our resources but generates only 15% of our GDP. The only beneficiaries are a few rich Farmers and Politicians. The condition of most of the landless laborers working on the farms is pitiable

They have no guaranteed minimum wage, control over working hours or guarantee of employment. If this was done by Industry there would be an uproar. It's about time that this 'zamindari' system- which is a hangover from the pre partition days be ended