Explain the role of public sector in Indian Economy. What its problems ?
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The public sector was the leading sector in economy. The public sector's role was important because because the industrial policy accepted the goal of the socialist pattern of society. Naturally the role of the state in economic development become important.
The problems related to it are :
1) The aggregate public expenditure exceeded the aggression public revenue which resulted in a huge fiscal deficit.
2) The high rate of inflation
3) India's balance of payment position was highly disturbing.
The problems related to it are :
1) The aggregate public expenditure exceeded the aggression public revenue which resulted in a huge fiscal deficit.
2) The high rate of inflation
3) India's balance of payment position was highly disturbing.
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