STUDY & ANALYSIS OF REJECTION PARAMETERS FOR THE ENHANCEMENT OF CPSEs PERFORMANCE

Abstract

India is one of the biggest rising economies of the 21st century. The Indian economy maintains a growth rate of 6%. To continue its growth, the support of Central Public Sector Enterprises (CPSEs) is very necessary because it holds maximum capability in all strategic sectors. The role of CPSEs is very important to give the self-reliance to the people. The CPSEs are solely responsible for the socio-economic and sustainable development of the country. The current deteriorating condition of CPSEs is a very big problem for the country because it is going to affect the future economic condition of the country. Currently, it is affecting the Make in India (The Dream of Prime Minister) and Skill India launched by the government to make the people self- reliance. One of the major factors for deteriorating condition of CPSEs is its increasing rejection rate of products. So, this study is focused on the parameters affecting the rejection rate of products and the deteriorating condition of CPSEs. A survey is carried out in Heavy Engineering Corporation Limited, Ranchi and with the help of literature survey, 34 parameters identified. Questionnaires set is sent to experts of different CPSEs. The Statistical Package for the Social Science (SPSS 23) is used to check the validity of questionairre using Cronbach’s alpha value. The Interpretive Structural Modelling (ISM) tool is used to identify the critical parameters and the relationship among them. The driving and dependence power of the parameters is classified with the use of ISM and Fuzzy-MICMAC and a hierarchy based model is developed. The findings were further discussed with the manufacturing field experts. With the application of ISM result and Fuzzy-MICMAC technique, it is found that ‘Skilled labour’, ‘Competent supervisors’, ‘Providing right inputs’ such as drawing and material and the ‘Reduction of political interference’ can save the CPSEs.