FINANCIAL MANAGEMENT IN ZORAM INDUSTRIAL DEVELOPMENT CORPORATION LTD. (ZIDCO)

Zoram Industrial Development Corporation Ltd. (ZIDCO) is the oldest state owned enterprise in Mizoram and was incorporated to develop industrial areas and promote entrepreneurship by providing aid, assistance and finance to industrial undertakings, projects or enterprises in the state of Mizoram. An in-depth financial management scanning shows that it has had failure after failure in project implementations primarily due to poor management, and particularly financial management.Productivity of capital is low and fresh infusion of capital requires funds that are not easily available. Under these circumstances, there is a great need for reformation and restructuring of the enterprise, especially with respect to its financial management in order to check the ongoing drain of resources before it reaches a point of no return.An attempt is made to study the financial management to come up with possible solutions and suggestions for improvement.