Define industrial sickness. What are its symptoms and causes? What are the measures adopted by the government to rehabilitate sick units.
Industrial sickness can be defined as a situation where an industrial unit faces continuous financial losses and is unable to meet its financial obligations. This condition often results in the unit becoming incapable of paying off its debts, managing its production, or maintaining its workforce. Industrial sickness can lead to closures, unemployment, and a negative impact on the broader economy.
Symptoms of Industrial Sickness
The symptoms of industrial sickness manifest in various ways, including:
1. Financial Distress: Persistent losses, negative cash flows, and inability to meet financial obligations such as interest payments and principal repayments on loans.
2. Operational Inefficiencies: Poor production performance, outdated technology, high operational costs, and inefficiencies in production processes.
3. Management Issues: Weak leadership, lack of strategic planning, and ineffective management practices that fail to address underlying problems.
4. Employee Problems: High employee turnover, labor unrest, and inadequate workforce ____ __________ _______ ___ ___ _______.
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