64 SOCIAL SCIENTIST If the experience of the joint sector is any guide, the national sector might as well mean the use of public funds and facilities for the advantage of a few dominant private ^participants. In Scooters India, the government share is restricted to 51 per cent. No restriction is in evidence on individual share-holding. It appears that under the existing law govern-ing companies, an individual holding more than 25 per cent of the shares can wield considei able influence over the policies of the company. Sometimes he can insist on a special resolution requiring 76 per cent of the votes. Considering the degree of passivity shown by most of the government nominees on the boards of the joint sector units, private owners having minority participation can control the destiny of national sector concerns. Opening the public sector units for minority participation might as well be like letting the camel inside the tent. Thus, the national sector concept is more far-reaching than it appears on the surface. Of course, it is syptomatic of the deepening economic crisis, where net savings fall far short of the needs of the plan. Resource mobilization may be the need of the hour. For that one may have to examine the deeper systemic aspects wich constrain resource mo" bilization.The government can tap the incomes of the landlords. They can plug the loopholes in the tax legislation. Tax evasion, avoidance and lea* kages in foreign exchange could be dealt with adeqately .Wasteful expenditures could be curbed. If the government cannot face these basic problems squarely, it will be a sheer illusion to expect that savings could be mopped up through the national sector. On the contrary, the penetration of private capital in public enterprises is likely to fritter away the little surpluses that have emerged in their profit and loss accounts. MJK THAVARAJ 1 Meena Gupta and MJK Thavaraj, "Industrial Policy and Concentration of Eco* nomic Power in India", Social Scientist 28, November 1974, pp 56-64. 2 B K Madan, "Public Share-holding in Public Sector Corporations^' Commerce, May 3, 1975, pp 642 and 667. 8 Ibid. 4 T A Pai, ^How the Public Sector Can Give Guts to the Economy", Socialist Indicia March 1, 1975, pp 29-31. Also, Link, Republic Issule, p 55. 6 7W.,p31. 6 Ibid. 7 B K Madan, op.cit. p 667.