Essay on Public Sector Enterprises – Reasons for Their Failure
Essay on Public Sector Enterprises – Reasons for Their Failure. Public Sector is the sector under Government control funded by the tax paying public and for the benefit of the nation.Prior to our Independence, we had essential services like Railways, Telephone, Posts and Telegraphs, Ordnance, Port Trusts etc. under Public sector. It was an age of discipline and strict ethical management. These are the stalwarts and forerunners which we inherited, immaculately formulated, run and maintained.Post-independence, we had a Government and the Constitution which was working towards an egalitarian society and the public sector was thought of as a way towards achieving self-reliance. Economic growth to develop a sound agricultural and industrial base, diversifying the economy and overcome economic and social backwardness. To add plausible excuses to this idea, the government…