What was the role of public sector before 1991 ?
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Before 1991, public sector was supposed to perform the following role in India: ... Sound Industrial Base: We also needed public sector to develop a sound industrial base because Private Sector either did not have huge capital required for these or were not interested in this sector as they had a long gestation period.
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Before the 1991 that is New Economic Policy
Public sector was Dominating in India and Has almost 27 Reserved categories of Industries.
Private sector was not doing well because of Insufficient capital, Fear of Loss, High restrictions and Barriers implied by Government, High risk etc.
Before 1991 Contribution of Public Sector was Huge and playing Main Role in Indian economy.
Public sector was Focusing On social welfare and Profit Both.
Public sector was Dominating in India and Has almost 27 Reserved categories of Industries.
Private sector was not doing well because of Insufficient capital, Fear of Loss, High restrictions and Barriers implied by Government, High risk etc.
Before 1991 Contribution of Public Sector was Huge and playing Main Role in Indian economy.
Public sector was Focusing On social welfare and Profit Both.
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