Elucidate the changed role of public sector undertaking in the context of privatization and liberalization
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As we realize that in 1991 India opened up its economy and began the procedure of globalization. Yet additionally, through similar changes in financial approaches, we grasped privatization. Up to that point in the post-freedom period, the general population segment was an essential piece of the advancement and advancement of our nation.
The legislature assumed the liability of putting tremendous capital in foundation and assembling enterprises. The private part was not prepared to deal with such monstrous undertakings with overwhelming capital inflow and long growth periods. So the focal and state governments depended on open endeavors to give thee administrations to the economy.
The initial couple of Five Year Plans were altogether intended to advance and protect general society part. Be that as it may, at that point came the period of privatization and globalization in 1991. The job of open division organizations was rethought. Presently general society area was to effectively take part in a focused market with the private endeavors. Wastefulness and deadened administration were not endured. People in general part was additionally considered in charge of the immense misfortunes of their organizations. Thus the job of open segment in our economy saw an update. Give us a chance to investigate the Changing Role of Public Sector.