Elucidate the changed role of public sector undertakings in the context of privatization and liberalization
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The changed role of PSUs can be understood from the following - Loss making PSU units can be privatised to make them more profitable and efficient. Privatisation will help them to diversify into various fields and balance their business growth. Better quality of staff can be hired through modern day human resources management. Sick manufacturing units can be revived with private capital resources.
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The public sector plays a vital role in undertaking the activities of globalization.
As an example, the schools that are in the public sector can be used to enhance the globalization.
By gathering the schools throughout the world, we can organize events to improve their cooperation and awareness too.
It will be a path to success also.
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