Description

The crucial importance of the public sector undertakings to the economic development of the country needs no emphasis. After achievement of independence of India, it was decided to make India a strong and viable economic power. In this national endeavor of great magnitude, it was envisaged that huge resources will have to be mobilize and a national will was to be generated to achieve the desired goal. The rationale of Public enterprise as a strong instrument of economic growth in a developing country like India need no emphasis. Public corporation in India can claim a respectable antiquity. Public enterprises in India have come to occupy an important place in the country's economy to adapt to the socialist pattern of the society.