Scribd
Upload
35 views6 pages

Business Environment: Topic:-Concept and Objectives of Public Sector in India

The public sector in India aims to achieve several objectives: 1. It aims to promote rapid economic development through creating and expanding infrastructure like power, transportation, etc. 2. It aims to generate financial resources for development projects and promote redistribution of income and wealth. 3. It aims to create employment opportunities, promote balanced regional growth, and encourage small-scale industries to accelerate development.

Uploaded by

Robertson Tongbram
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
35 views6 pages

Business Environment: Topic:-Concept and Objectives of Public Sector in India

The public sector in India aims to achieve several objectives: 1. It aims to promote rapid economic development through creating and expanding infrastructure like power, transportation, etc. 2. It aims to generate financial resources for development projects and promote redistribution of income and wealth. 3. It aims to create employment opportunities, promote balanced regional growth, and encourage small-scale industries to accelerate development.

Uploaded by

Robertson Tongbram
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
You are on page 1/ 6

Business Environment

Topic:- Concept and objectives of public sector in India

Submitted to: Submitted by:


Dr. Kawal Nain Singh Robertson Tongbram(72013649)
Concept of public sector in India:
In India, a public sector company is that company in which the Union
Government or State Government or any Territorial Government owns a
share of 51 % or more. Currently there are just three sectors left reserved
only for the government i.e. Railways, Atomic energy and explosive
material. Private sectors/players are not allowed to operate in these
sectors.

Before the independence of India, there were only a few public sector
companies in the country this includes, Indian Railways, the Port Trusts, the
Posts and Telegraphs, All India Radio and the Ordinance Factory are some
of the major examples of the country’s public sector enterprises. However,
post Indian independence, some policies for the development of the socio-
economic status of the country were planned out by the then visionary
leaders, where the public sector were used as a tool for the self-reliant
growth of the nation’s economy.
This was the reason that the second five year plan of India was solely
based on the development of the different industries. Till 1990s major
sectors of the economy were reserved only for the government, this
caused the great loss of our precious natural resources and the whole
country trapped into the great economic problem. From the very first
five year plan till 1980s our country grows with the average rate of
3.5% per year (which is called Hindu rate of growth by Prof.
Rajkrishna).
But later on the in 1991, july our new economic policy was launched
under the leadership of Mr. Manmohan Singh and P.V. Narsimha Rao.
Diagram of Public Sector Organizations
tives of this new economic policy were:
sustained growth in productivity
inful employment
imum utilization of human resources
ndia into a major partner and player in the global arena.
dian economy from the vicious circle of poverty.
n economy to interact openly with the rest of the world.
f this new policy was that reserved sectors were opened for the private playe
operate at its optimum pace.
tives: The public sector aims at achieving the following objectives:
mote rapid economic development through creation and expansion of infrastr
enerate financial resources for development
omote redistribution of income and wealth
eate employment opportunities
omote balanced regional growth
ncourage the development of small-scale and ancillary industries, and
ccelerate export promotion and import substitution

You might also like